Posts by Don Fenley
Tri-Cities commercial real estate activity hits high point
Tri-Cities commercial real estate had one of its best-ever months in August. There were 64 commercial leases and sales, up 82.9 percent from last year. It’s also noteworthy that activity in the Commercial-Retail and…
Read MoreForbearance exit helps boost inventory
The first wave of borrowers is exiting the forbearance program through October. They have the option to resume making mortgage payments, modify their loan, or cashing out at the top of a hot market.…
Read MoreAugust home prices surge to an all-time high
There are signs the local housing market is slowly transitioning to more normal conditions. Demand is ebbing, and inventory is gradually increasing. But that didn’t pull August prices and closings off a record-setting pace. Prices were at all-time highs. And closings were at an…
Read MoreAppreciation boosts number of local equity-rich homeowners
During the second quarter of this year, there were almost 65,501 outstanding mortgages in local zip codes. Of those, 20,237 were equity rich. That means they had a loan-to-value ratio of 50% or less. The…
Read MoreMarket gives troubled homeowners a lift
How many times have you heard potential buyers say they’re going to wait for the housing bubble to burst? That misinformation wisdom is based on some pundits’ – but not…
Read MoreMarket trend good news for first-time buyers
July’s housing trends had some good news for first-time buyers and those shopping in the affordability zone. Sellers added more homes in the $180,000 to $200,000 price range for the fifth straight…
Read MorePending home sales show signs of seasonal slowing
Homeowners accepted 1,074 offers for single-family and condo sales in July. It was the third month new pending sales have been flat. Both the long and short-term trends are beginning to soften as the market transitions…
Read MoreData show active inventory is slowly improving
July’s active inventory trend has some good news for buyers. Both the month-over-month and year-over-year tracking by the NETAR Home Sales Report shows sellers are putting more homes on the market. …
Read MoreLocal commercial real estate market heads for banner year
Commercial real estate scored another strong month in July with the Retail-Commercial and Office Sector accounting for almost half of all transactions. Transactions were up 96.6 percent from July last year, according to the Northeast Tennessee…
Read MoreLocal home price indexes hit 42-year high
Local home prices continued their upward trajectory in June and reached the highest level since 1979. The 12-month Home Price Index for the Johnson City metro area was 18.9%. It was 17.6%…
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