Trends

Trends

June 13, 2019
May’s housing market could not match the decade high closings benchmark set May last year, but that did not hold back home price increases. Closings were down 2.7 percent across the 11-county area monitored by the Northeast Tennessee Association of Realtors’ (NETAR) Trends Report. At the same time, the average single-family home resale price was an 11-year high. There were 727 closings last month – 664 on single-family homes (down 3.9 percent)...
May 20, 2019
April local pending home sales up for the 20th straight month April’s new approved contracts for existing home sales were barely better than March, but it was enough to set another record, according to the Northeast Tennessee Association of Realtors (NETAR). There were 854 new approved contracts in April – up five from March. The preliminary total for all active, pending sales increased to 1,240 – up 210 from March. Both are...
May 13, 2019
April’s Tri-Cities area home sales made a strong rebound from March’s 4 percent decrease. April’s closings were 11.8 percent better than April last year, according to the Northeast Tennessee Association of Realtors (NETAR). Combined single-family and condominium closings totaled 661, up 70 from April last year and 41 more than March. The region’s all-sales growth rate continues trending higher, but at the slowest growth rate in four years....
April 22, 2019
New approved contracts for existing single-family, townhome and condominiums raised the bar again in March. The record is now 839 new approved contracts in one month. That total is 58 more than recorded by Realtor Property Resource (RPR) March last year. It is also 219 more than all the residential closings in March. Add last month’s new contracts to those awaiting closing, and you have a total of 1,160. That number is also a record for active...
April 15, 2019
March home sales declined when compared to March last year while the average price increased. First quarter sales and the average sales price for both single-family homes and townhomes were up from the first three months of last year. “The lack of inventory is squeezing the market,” said Karen Randolph, Northeast Tennessee Association of Realtors (NETAR) president. Mortgage rates have declined and settled at accommodating levels, consumer...
March 24, 2019
Continued drops in mortgage rates are paving the way toward a robust spring home buying and selling season. New approved contracts at the end of February were down from January’s spike while the number of active pending sales awaiting closing were at a four-year high. There were 665 new approved contracts for single-family and townhome/condo resales in the 11-counties monitored by the Northeast Tennessee Association of Realtors (NETAR) at the...

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