President, Northeast Tennessee Association of REALTORS®

If you’ve been thinking about buying or selling a home lately, you’ve probably asked yourself the same question many others have: Is now the right time?

It’s a fair question. Between mortgage rates, home prices, and the rising cost of just about everything,

making a move isn’t as simple as it once was. Some buyers are waiting for rates to come down, while homeowners who locked in lower rates a few years ago aren’t eager to give them up.

But here’s something worth remembering. Just because people aren’t buying homes right now doesn’t mean they’ve stopped wanting to.

That was one of the key messages shared by Lawrence Yun, chief economist for the National Association of REALTORS® (NAR), during the organization’s annual NXT conference in New Orleans on November 6.

Yun pointed out something interesting. Since 2000, the U.S. population has grown from 281 million to approximately 350 million. More people are working, and Americans have built considerably more wealth through homeownership. Yet existing-home sales this year are expected to be around 4 million, compared to 5.2 million in 2000.

In other words, we have millions more people in this country, but we’re selling fewer homes than we did 26 years ago.

That tells us there’s a lot of potential demand waiting on the sidelines. People want to buy homes, but many are waiting until they feel more comfortable with the cost and their financial future.

We see those same concerns here in Northeast Tennessee.

Our region has so much to offer. We have wonderful communities, beautiful mountains, good neighbors, and a quality of life that’s hard to beat. Whether someone has lived here their entire life or is considering making Northeast Tennessee their new home, there’s plenty to love about this area.

But even in a region like ours, affordability matters.

Think about a young couple hoping to buy their first home. They’re working, paying rent, possibly paying off student loans, and maybe raising a family. By the time they cover childcare, groceries, insurance, and other everyday expenses, saving for a down payment can seem almost impossible.

And they’re not alone.

According to NAR’s newly released 2026 Profile of Home Buyers and Sellers, first-time buyers made up just 22% of home purchases nationwide, near an all-time low. Even more telling, the median age of a first-time buyer is now 40.

Forty years old.

For many of us, buying that first home was an important step toward building financial security. It’s where we started building equity, putting down roots, and making memories.

Seeing more people having to wait longer for that opportunity should concern us.

There is another side to this story.

Many homeowners are staying right where they are. NAR reports that sellers are now remaining in their homes for a median of 12 years, longer than ever before.

And who can blame them? If you have a mortgage rate of 3% or less, the thought of selling your home and taking on a new mortgage at a higher rate may not make financial sense. Even if you need more space or would like to downsize, the numbers have to work.

The result is fewer homes coming onto the market, especially in price ranges that first-time buyers can afford.

Still, there are some encouraging signs.

Nationally, the number of homes available for sale has increased as sales have slowed. Homes are also taking a little longer to sell. In September, the median time from listing to contract was 33 days.

For buyers, that can mean a little breathing room. Instead of feeling pressured to make an immediate decision, they may have more time to look at their options, ask questions, and negotiate.

For sellers, it’s a reminder that pricing matters. The days of putting almost any price on a home and expecting multiple offers may be behind us in many markets. Buyers are paying attention, and homes priced above what the market will support may sit longer.

Of course, real estate is local. What’s happening in Johnson City may not be exactly what’s happening in Kingsport, Bristol, Greeneville, or our smaller communities. Even within the same neighborhood, homes can sell at different prices depending on their condition, location, and features.

That’s one reason working with someone who understands the local market is so important.

In fact, one of the most interesting findings in NAR’s latest report is how many buyers and sellers continue to rely on real estate professionals.

Nationally, 90% of buyers purchased their homes through a real estate agent, the highest percentage in four decades. And a record 92% of sellers worked with an agent.

With so much information available online, some might find those numbers surprising. But buying or selling a home involves much more than looking at pictures, comparing prices, or scheduling a showing.

There are contracts to understand, deadlines to meet, inspections to consider, financing questions to work through, and negotiations that can affect the outcome of a transaction. Having an experienced REALTOR® who understands the process and the local market can make a real difference.

So, what can we expect as we look toward 2027?

Yun believes there’s reason for optimism. If mortgage rates ease, more homes become available, and consumers feel better about the economy, we could see more buyers and sellers return to the market.

That doesn’t mean everything will change overnight. Housing affordability remains a serious issue, and building more homes at prices people can afford will continue to be important.

But I believe there’s good reason to remain hopeful about housing in Northeast Tennessee.

People still want a place to call their own. They want a home where they can raise their children, welcome friends and family, enjoy retirement, or simply settle into a community they love.

Those dreams haven’t changed, even if the housing market has.

If you’re thinking about buying or selling, don’t assume you have to wait for the perfect market. Talk with a local REALTOR®, learn what’s happening in your community, and take a good look at what makes sense for your circumstances.

After all, the right time to make a move isn’t always determined by a headline or a mortgage rate. Sometimes, it’s determined by what’s right for you and your family.

This column is based on the November 6, 2026, economic outlook presented by National Association of REALTORS® Chief Economist Lawrence Yun and research shared by NAR Deputy Chief Economist Jessica Lautz from the 2026 Profile of Home Buyers and Sellers. Statistics cited are national figures and may differ from Northeast Tennessee market conditions.