Posts by Don Fenley
MARKET PULSE – Mobile home increase sales share in affordable housing marke
Buyers seeking affordable housing are increasingly turning to manufactures homes as a resource. July sales were 38% higher than last year and the median sales price was up 11.7%. According…
Read MoreMARKET PULSE – Strained affordability leads builder to go smaller
New home shoppers will see smaller home offerings until the housing affordability issue eases in the Tri-Cities. It’s one way builders are coping with the economic realities of the affordability…
Read MoreMARKET PULSE – Inventory gains nudge market toward more balanced conditions
Buyers have more choice and better bargaining positions as the local home sales tend slouches toward a pre-pandemic level. That’s because slower sales are allowing faster inventory growth. July’s active…
Read MoreMARKET PULSE – New home sales up, prices down
New homes sold during the first half of this year were up by 41%, and the sales price was down 3.7% from last year. At the end of June 383…
Read MoreJune pending home sales flat
June’s pending sales were flat on the heels of a 20% decline in home sales. Sellers accepted 796 new contracts, one fewer than the previous month, and 42 more than…
Read MoreMARKET PULSE – June’s top sale was $4.2 million cash deal in Butler
A $4.2 million cash sale in Butler’s Horseshoe Cove was the region’s 36th $1 million plus sale in June. It also tops the luxury home sales category so far this…
Read MoreMARKET PULSE – Move-up and luxury markets run out of steam in June
June was a perfect storm of sorts for Tri-Cities area home sales. They posted their biggest loss so far this year. They were down a little better than 20% from…
Read MoreMARKET PULSE – Mobile home sales up in June
June was not a very good month for single-family detached home sales, but the same was not the case for mobile homes. There were 44 sales, and the median sales…
Read MoreMARKET PULSE – Months of inventory dynamics stagnate
One of the most valuable housing market metrics is months of supply. That’s the number of months it would take to sell all the homes currently for sale, given the…
Read MoreNew contracts point to flat home sales
Pending home sales increased 2% from last year as the local housing market neared the peak of the prime home buying and selling season, according the to Northeast Tennessee Association…
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