Posts by Don Fenley
Cash sales picking up as market begin shifting
Cash sales are increasing in the local market as they are nationwide. But unlike the national tenor, they are not setting all-time highs. Last month NE Tenn. – SW Va.…
Read MoreNE Tenn. housing market shift showing up
Uncertainty took a toll on NE Tenn. home sales last month. April’s sales were down 18 (2.2%) from March and down 58 (6.5%) from April last year. Year-to-date sales were…
Read MoreHousing market robust even as April sales decline
Northeast Tennessee’s housing market remained robust in April, but with new signs a shift is underway. Mortgage rates have spiked to their highest level in 13 years, and significant questions…
Read MoreLocal luxury home sales still booming
The local hyper-competitive housing market has raised the benchmark for just about all existing home sales categories. Luxury homes sales are no exception. And the market for properties in the…
Read MorePending sales surge as buyers rush to lock in low rates
March’s pending sales were a replay of February when buyers rushed to lock in mortgage rates before the next increase. Sellers accepted 917 new contracts last month – 191 more…
Read MoreMarch land sales up, down from last year
March was one of those months when real estate reports were in the up and down mode across the region. Vacant land sales were up 21% from the previous month…
Read MoreLocal commercial estate expected to do well despite higher interest rates
Local commercial real estate (CRE) transaction activity was slightly higher than February and down 20% from March last year. First-quarter activity was unchanged from last year. “Transaction activity alone is…
Read MoreRents skyrocket – apartments a hot commercial property asset
Local rents are increasing at a rate almost four times the inflation rate in Elizabethton to 2.5 times inflation in Kingsport, Greeneville, and Bristol. The Johnson City rate is slightly…
Read MoreMarch home sales up 36%, another double-digit price increase
It’s a foregone conclusion that higher mortgage rates will eventually tap the brakes on the overheated housing market. But it hasn’t shown up on the short-term local market yet. March…
Read MoreWhich homes sold above and below list price by loan source
A change in mortgage rates always moves this market. The March increased to the 4% plus ranges, and outlooks say more are on the way, was no exception. It was…
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