Trends

Trends

March 31, 2017
February's new pending sales jumped to a six-month high in the 11-county area monitored by the Northeast Tennessee Association of Realtors'® (NETAR) Trends Report. The local report parallels the National Association of Realtors'® Pending Homes Sales Index, a forward-looking indicator based on contract signings. It made a strong rebound in February, soaring to the highest level in nearly a year and the second highest level in more than a decade....
March 15, 2017
The Tri-Cities region housing market's record-setting sales pace just hiccupped. It was a little one, but after 21 straight months of year-over-year increases, closings were down last month. So was the average sales price and inventory. The Northeast Tennessee Association of Realtors' (NETAR) Trends Report shows there were 336 closing on single-family homes in the 11-county region it monitors.  That's 11 fewer than February last year and 27...
February 27, 2017
New pending sales picked up in January paving the way for an early opening to what would normally be considered the spring peak buying and selling season. Eric Kistner, president of the Northeast Tennessee Association of Realtors, said January's new pending sales were 32% better than January last year and up 10.2% from December. "It was the 12th straight month new pending sales have increased in the 11-county region monitored by NETAR's 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...

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