News

October 10, 2016
By MARSHA STOWELL Last month Harvard's Joint Center for Housing released its annual State of the Nation's Housing.  The two primary finds cited by Real Estate Economy Watch were: On the owners' side, the number of households facing cost burdens has fallen steadily as high foreclosure rates have pushed out many financially strained owners, low interest rates have allowed retaining owners to reduce their housing costs, and the...
October 10, 2016
By MARSHA STOWELL May's sizzling Northeast Tennessee home sales report raised eyebrows for two reasons.  The first was because we're not used to thinking about local home sales outshining the rest of the state. The second focuses on an average price trend that's beginning to woefully lag the sales increase pace. According to the Tennessee Association of Realtors® home sales in Tennessee were 5% higher in May than May last year....
October 10, 2016
By MARSHA STOWELL This year's Homeownership Month arrived in Northeast Tennessee riding a wave of positive housing market news.  Gov. Bill Haslam declared June "Homeownership Month" at the request of the Tennessee Housing Development Agency. Part of THDA's mission is to make homeownership affordable to a wider range of Tennesseans through financing options and the availability of down payment assistance.   This year, Northeast...
October 10, 2016
By MARSHA STOWELL Consumers didn't wait for the spring buying and selling season this year and launched area home sales on a record-setting pace that shows little sign of letting up as we enter the summer season.  Pending sales with accepted offers available the end of May were 61% better than May last year across the region monitored by the Northeast Tennessee Association of Realtors.  There are few headwinds pushing against...
October 10, 2016
By MARSHA STOWELL Home sales have been moving at a rapid pace for the past 12 months.  A common experience for many real estate professionals at social or community functions is someone leaning in close and asking, “How’s the market doing?” It’s easy to understand what drives the question. There’s a torrent of information bombarding the public about what’s happening, what isn’t happening and what may happen to the economy. For...
October 10, 2016
By MARSHA STOWELL One big advantage the Tri-Cities housing market has is affordability.  Sales are on a hot streak and prices are increasing, but not so much that it has dramatically reduced affordability. When you crunch the numbers, a buyer earning the median local family income has ample buying power to purchase a median-priced home. That’s a staple for the cost of living here. One affordability concern that’s getting...

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