Posts by Don Fenley
NE Tenn. – SW Va. home prices soften, sales up
Buyers got a little relief from rising home prices in July while sales entered the second half of the year on the upswing. “July was a month of second bests,” said Northeast…
Read MoreExpect inventory – but not balanced market conditions – to increase
Barring unexpected complications expect home construction to begin expanding inventory for the next two years. Kingsport is just one example of how construction is being ramped up. The city has 1,500 lots for single-family and condos in some stage of…
Read MoreGiving hope to weary buyers
How can Realtors boost the morale of buyers in a market where reports of bidding wars, offers above the listing price, and steep price increases dominate the conversation? One way is to remind them that while…
Read MoreJune Pending Home Sales Up from Last Year, Down From May
Homeowners accepted fewer offers for single-family and condo sales in June than they did in May. It’s the first time since February pending sales have declined from the previous month, and the second straight month…
Read MoreThe local condo-townhome market is sizzling
The local condo and townhome market doesn’t get as much public attention as the existing and new home markets. That doesn’t mean it’s not sharing in the real estate market’s Midas touch. …
Read MoreCommercial real estate gains momentum despite June slump
The local commercial real estate (CRE) market continues gaining momentum despite a June transaction decline. The decline from May was the steepest drop in the past three years. But it is not representative of the mid-year trend. Reasons vary, but most of the…
Read MoreData show signs of a transitioning housing market
Multiple indicators point to slight housing demand easing and an improvement in the inventory crunch. The market is expected to remain robust with more choices for buyers. The days a home spends on the market before…
Read MoreFundamentals taking some craziness out of housing market
During the last 12 months 4,162 local residents took out loans to either refinance or buy a home. That’s a 54% increase from the first quarter of last year. Record-low…
Read MoreJune local home sales, prices up – market transitioning
June’s home sales were up 6.4 percent from May, and the average sales price was 9.8 percent higher. “Last month’s housing data – with the exception of prices – also began showing signs that the local…
Read MoreLocal vacant land sales beginning to slow
There were 201 vacant land sales in May. That’s 28 fewer than in April. So far this year 967 sales have closed. During the first five months of last year, there were 509 closings. …
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