Trends

Trends

February 20, 2017
Northeast Tennessee's housing market began 2017 with another sales record. It was the 21st straight month of year-over-year increases. The new year, however, also began amid mixed signals. Consumer confidence is high, despite concerns about higher mortgage rates, and while sales are showing year-over-year gains, the growth trend is slowing. "That's the same thing we're seeing with the region's job creation," said Eric Kistner, president of the...
January 31, 2017
December pending home sales in Northeast Tennessee increased following the national pattern announced Monday by the National Association of Realtors (NAR). “Pending sales rebounded last month as enough buyers fended off rising mortgage rates and alarmingly low inventory levels to sign a contract,” NAR Chief Economist Lawrence Yun said. “The main storyline in the early months of 2017 will be if supply can meaningfully increase to keep price...
January 16, 2017
Northeast Tennessee's housing market set two significant benchmarks in 2016. Single-family and condominium resales were above the $1 billion mark for the first time, and closing on existing single-family home sales moved past the 6,000 level. "2016 was a very solid year for real estate and its contribution to local economies," said Northeast Tennessee Association of Realtors President Eric Kistner. Sales of previously owned single-family homes...
December 28, 2016
A gauge for residential home sales continued to show some seasonal slowing in November. At the same time, it was 23% higher than new pending sales for November last year. The Northeast Tennessee Association of Realtors reports there were 562 new pending sales in the 11-county region monitored by NETAR's Trends report in November, down from 641 in October and up from 457 November last year. New pending sales include accepted offers on single-...
December 14, 2016
Closings on Northeast Tennessee single-family home sales surged 18.8% in November compared to a year ago, according to the Northeast Tennessee Association of Realtors' Trends Report.  It was the fifth largest increase this year. It also pushed year-to-date closings past last year's total. So far this year sales of 5,612 homes have closed compared to 5,286 in all of 2015. "While we're seen some normal seasonal market slowing, it's still very busy...
December 1, 2016
The Tri-Cities new pending home sales trend continue tracking stronger than last year, but the growth rate trend line has flattened out after hitting an early summer peak. Normally that would be a sign of typical seasonal slowing. But this year's market is not normal by any means. At the same time the trend line shows a slowdown year-over-year data continues the volatility of the past four months. According to Realtor Property Resource (RPR)...

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