Posts by Don Fenley
Pending home sales decline for fifth month
Pending home sales declined for the fifth straight month in September. Sellers accepted 752 new contracts, down 116 from August and 115 fewer than September last year. Pending sales are a…
Read MoreTri-Cities housing affordability by the numbers
GRAY, Tenn. – One of the biggest threats to the Tri-Cities housing market is not higher mortgage rates or inflation. It’s affordability. Home prices have increased at a tidy clip…
Read MoreLocal commercial real estate up 3% so far this year
GRAY, Tenn. – Tri-Cities area September real estate transactions are up 3% for the first nine months of this year and down 11% from September last year. The local transaction…
Read MoreMore homes selling below the asking price than above
GRAY, Tenn. – We’re ten months into the year and the local market has reached an inflection point. It’s clear that a slow transition is underway. But unless something unforeseen…
Read MoreRising mortgage rates nudge Tri-Cities home prices lower
GRAY, Tenn. – Rapid mortgage rate increases are nudging Tri-Cities’ short-term home prices lower. September’s typical price dropped to a three-month low. It’s still almost 15 percent higher than last…
Read MoreHousing market enters the fall season of change
GRAY, Tenn. – Later this week, we’ll get our first look at NETAR’s Home Sales Report that shows how the housing market is reacting to the fall season, higher mortgage…
Read MoreTri-Cities luxury home sales down 31% since May; eight-month trend up 45%
GRAY, Tenn. – Rising mortgage rates, stock market volatility, and inflation concerns have pushed Tri-Cities luxury existing housing sales down by 31% since May. But while $500,000 plus sales are…
Read MoreTri-Cities pending home sales down for 4th month
GRAY, Tenn. – One of the primary forward-looking monthly housing reports is down for the fourth straight month. Sellers accepted 868 new contracts, down 20 from July and 102 fewer…
Read MoreTri-Cities area condo sellers get extra $11,000 per sale
GRAY, Tenn. – Tri-Cities sellers are getting an average of $11,000 more per townhome/condo sale in NETAR’s primary service area while the number of sales is down 26% from August last…
Read MoreYear-to-date commercial real estate transactions up 54%
GRAY, Tenn. – Tri-Cities commercial real estate (CRE) transactions continued a steady growth pattern in August. So far this year, 393 transactions have been finalized for a 54.7 percent improvement…
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