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Kingsport, Bristol Tenn. continue adding housing market share

Kingsport and Bristol Tenn. continued exceeding their 2017 annual market share benchmarks last month with the strongest showing by Kingsport.  That extended Sullivan Co.'s position for another month by a tenth of a point. Wise and Johnson counties also their extended market share positions in February. But thier February market share performance declined from January's levels.

The markets where lack of inventory is having its most evident effect on market share is Johnson City and Washington Co. Tenn. Those are normally the leading local markets, and while they are still at the top of the sales and price leaderboard, they are not consistently sustaining their positions equal to their 2017 annual market share levels,




On the city market level, three cities had increased year-over-year sales last month, and two cities posted price increase.

On the county level, seven counties had higher sales and eight had a year-over-year increase in the average price.

It was also another month of outliers that skewed averages. Johnson County is an example.


The two-month year-to-date trend shows growth in Johnson City, Kingsport, and Bristol, Tenn. while the twin cities led the region with double digit average price increases. Erwin wasn't far behind, and Kingsport rounded out the region's price leaders.

The county year-to-date trend shows the strongest sales and average price growth in Johnson Co.,  due to the outliers.

February's housing market was a contradiction to many other markets where the inventory crunch is putting the squeeze on home sales.  Sales were up 9.8% compared to last year, and the average sales price was up 6.7%.

That begs the question: How much longer will this last.

We won't really know the answer to that question until after it happens. But for now, the regional economy keeps posting positive reports with wage increases beginning to pick up. The  regional housing market is only showing slight signals that it might be slowing down from last year's record pace. 


Looking at the longer-term trend the three-month moving average for sales peaked in 2015, in August at 539, then July in 2016 at 624. Last year's peak was 610 in July. The trend started underperforming the previous year in March 2017 and trended lower for next five months. Then it spiked in September only to sink back to an underperforming average in October.  It regained its uptrend footing in November and has exceeded the same month of the previous year every month since.