Posts by Don Fenley
Local commercial real estate sales, leases at a new high
Local commercial real estate transactions ended 2021 at a decade high and are expected to perform well despite the prospects of higher interest rates. Transactions from listings on the two…
Read MoreTri-Cities area home sales raise the bar again in 2021
There were 9,523 closings on existing home sales in 2021. That’s a 10.6% improvement over the 2020 total. It’s also the second straight year the annual growth rate has been in…
Read MoreTri-Cities area home sales up 10.6%, prices up 16.2%
The benchmark for area home sales and prices moved up a few notches in December. Closings on single-family homes and condominiums were up 10.6% from last year. The median sales…
Read MoreRush to lock in low rates pushes inventory lower
Pending sales outnumbered new listing again in November, wiping out hopes that a couple of months of small active inventory gains would carry into the New Year. The region went…
Read MoreNE Tenn – SW Va land sales on track for another big increase
Vacant land sales are on track for another annual increase just below the 50% mark. They’ve been on that path since 2020 while sales in some price ranges are well into triple-digit increases. The three…
Read MorePending home sales point to another record year
Pending home sales declined from the previous month for the third time in November as the market continued taking a breather from its frantic pace. Compared to last year, last month’s approved contracts point to another record year…
Read MoreNE Tenn – SW Va land sales on track for another big increase
Vacant land sales are on track for another annual increase just below the 50% mark. They’ve been on that path since 2020 while sales in some price ranges are well into triple-digit increases. The three…
Read MoreAlmost a third of local single-family residences are rental units
Nearly one of every three single-family homes or condos in the region monitored by NETAR during the fourth quarter was a non-owner-occupied investment property. Of those 60,463 properties, 3,460 were vacant, giving the region…
Read MoreLocal commercial real estate up 44.1%
November’s regional commercial real estate market continued its recovery momentum with a 44.1% increase over last year’s transaction performance. So far this year, all but one sector has surpassed market performance during the first 11 months…
Read MoreInflation in the mortgage rates driver’s seat
November’s median existing-home sales price jumped to $210,000. That’s the same level it was at the market peak in August. The reason was buyers saw that mortgage rates were ready…
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