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Commercial real estate gains momentum despite June slump

By Don Fenley / July 12, 2021

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…

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June local home sales, prices up – market transitioning

By Don Fenley / July 6, 2021

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…

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May pending home sales up 9.9 percent from April

By Don Fenley / June 21, 2021

Homeowners accepted an all-time high of 1,083 offers for single-family and condo sales in May. That’s a 9.9 percent increase from April and 23.2 percent higher than May last year.  Pending sales are a leading indicator of…

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Signs for slowing price growth rate

By Don Fenley / June 20, 2021

May’s median existing-home sales price was 18.8% higher than it was in May 2020. That double-digit year-over-year trend has been consistent for 10 of the past 11 months. And while it’s less…

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Commercial real estate has best month so far this year

By Don Fenley / June 14, 2021

Tri-Cities commercial real estate posted its best month so far this year in May. There were 59 transactions. Last year there were 25.  So far this year there have been 226 transactions,…

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Another double-digit increase for home sales, prices

By Don Fenley / June 7, 2021

Home sales and prices continued at a double-digit pace in May despite a slight softening from April’s totals.   “There are some ever-so-slight declines in sales and prices, but the overall market shows no immediate…

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Local housing market sees robust April pending sales

By Don Fenley / May 14, 2021

If you liked April’s home sales numbers, look for more of the same in May and June.  Homeowners accepted 985 offers for single-family and condo resales in April, setting the stage to continue a strong prime home buying and…

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Local commercial real estate picks up momentum

By Don Fenley / May 11, 2021

Commercial real estate transactions were up 65 percent from last year in April.  Transactions have more than doubled during the past two months, with a notable April increase in the retail-commercial sector, according to the Northeast Tennessee Association…

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Local home prices soar in April; inventory hits all-time low

By Don Fenley / May 6, 2021

Home prices continued double-digit growth in April as inventory dropped to an all-time low. At month’s end, the region monitored by the Northeast Tennessee Association of Realtors (NETAR) Home Sales Report had a 1.3-month supply of homes for sale.  “It was a given…

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Commercial Real Estate spikes

By Don Fenley / April 17, 2021

WETS’ Business Matters cited NETAR’s March and Q1 Northeast Tennessee Commercial Real Estate Report. Momentum has been building since the fourth quarter of last year. It released in March. Office…

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