Posts by Don Fenley
January pending sales down 10.9% from December
Pending home sales trended lower for the fifth straight month in January. Sellers OK’d 684 contracts, down 84 from December and 41 fewer than January last year. Pending sales are a…
Read MoreThere’s less than a month’s townhome, condo inventory for sale
January’s Tri-Cities condo market was a lot like the existing homes sector with the inventory situation on steroids. Last month the 37 closings were down from 50 last year while…
Read MoreLocal commercial real estate up 52%, good outlook for 2022
The Tri-Cities commercial real estate market kicked off the new year with a 52% increase in transactions as last year’s growing demand extended into the new year. Cassie Petzoldt said…
Read MoreLocal cash sales at 10-year low, still higher than U.S. share
The current national Attom Data Solutions report on cash sales is good example of how local market conditions don’t always follow the U.S. model. U.S. cash sales accounted for 30.3%…
Read MoreDemographics exert more influence on housing market
Demographic dynamics are rapidly becoming a bigger factor for the housing market. Millennials and the elder GenZers are aging into their prime home-buying years. Combined, they account for the single…
Read MoreJan. home sales down, prices up 17% from last year
Home sales and prices were down from December’s strong close to the 2021 market. Market performance was less dramatic when compared to January last year. Closings were down 29.8% from…
Read MoreDid the market just shift back into overdrive?
Buyers, sellers, and Realtors® have a long list of things to watch for as the market gears up for this year’s spring buying and selling season. The trend toward less…
Read MoreTri-Cities 2021 vacant land deals up 40.8%
Tri-Cities vacant land transactions joined the rest of the real estate industry segments last year for its best-ever year. Sales and leases were up 40.8%. They have increased 214% since…
Read MorePending home sales decline 21%
The number of pending existing home sales slid in December, as high prices and rising mortgage rates gave some buyers pause. Others clamored to get deals accepted before more anticipated…
Read MoreLocal condo prices up, sales down
Prices were up 9.5% for local condominiums and townhomes last year, but sales were down. Lack of inventory and the local preference for detached housing are the drivers for what’s…
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