Posts by Don Fenley
Local high-end home sales pick up steam
While there is some softness in overall existing home sales, the $500,000 and above existing market continues booming. Last month there were 101 sales. That is slightly better than twice…
Read MorePending home sales down for the second month
A forward-looking housing market metric has flashed another declining sales signal for NE Tenn. – SW Va. Sellers accepted 19 fewer contracts than they did in April and 62 fewer…
Read MoreMay commercial real estate transactions up 16.9%
Higher interest rates and inflation have had mixed effects on the local commercial real estate (CRE) market so far this year. Transactions were up for the third straight month in…
Read MoreHow local data trumps some housing market reports
Anyone who reads housing market blogs, newsletters, or mass media reports has come across the claim that sellers are scaling back prices. Altos Research called price reductions a big trend…
Read MoreMay home prices hit new highs, sales down
Northeast Tennessee’s home sales are slowing, but not prices. They hit new highs last month. “While it’s inevitable that rising prices will slow down in the coming months, it hasn’t…
Read MoreRelocation buyers, remote workers alter housing market
Relocation buyers have and will continue to fundamentally change the local housing market landscape for the foreseeable future. So far, the most noticeable effect has been a concentration of buyers…
Read MoreLocal Condo Market Continues Strong Performance
The regional condominium/townhome market mirrors much of the existing home resales but with at least one notable exception. Listings are spending much less time on the market than single-family homes.…
Read MoreLocal land sales slowing down, but not prices
Vacant land prices are holding up well in a market that is slowing from last year’s torrid pace. April area sales were down 15.7%. Pending sales were down 1.6%. Active…
Read MorePending sales down, inventory shows slight increase
Higher mortgage rates, the continued lack of inventory, declining affordability, and inflation took a bite out of April’s pending sales. Sellers accepted 897 new contracts last month, down from 917…
Read MoreStrong fundamentals move local commercial market forward
The local commercial real estate (CRE) market continues moving forward despite higher interest rates and inflation. According to the Northeast Tennessee Association of Realtors (NETAR) and the National Association of…
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