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A look at Knoxville’s hot housing market

Housing Wire

Currently on Realtor.com , more than 2,000 homes are currently on the market in Knoxville with an average listing price of $270,000. But like the rest of the country, low housing inventory has hit the city hard. According to the Knoxville Area Association of Realtors , the number of houses for sale in 2020 was down 47.5%

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HOME BUYERS FACING ‘TRIPLE-WHAMMY’ EFFECT

Will Springer Realtor

People are looking at higher prices, there’s slim pickings in inventory and now we have higher mortgage rates.”. The House version, HB 1782 , is backed by developer and Realtor® lobbyists, Habitat for Humanity and environmental groups, according to The Seattle Times. Inventory remains a big concern. home buyers. There are 0.4

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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

That includes 621 fewer Pending contracts in April 2022 than the previous April, as the net number of new listings remains on average lower than in years past. ” The increased number of listings and slight slow-down of the market have helped boost inventory numbers. . a month ago. Total supply on the Eastside (0.7

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IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

“There is a strong desire for homeownership across this country, but the lack of supply is preventing too many Americans from achieving that dream,” said Lawrence Yun, chief economist for the National Association of Realtors® (NAR). POTENTIAL TAX SAVINGS. Skyrocketing property values in our area have their downsides.

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

The multi-pronged effort includes legislative and administrative actions to increase the number of affordable units and overall inventory. UNMARRIED AND BUYING TOGETHER For the third consecutive year, a report from the National Association of Realtors® (NAR) noted an increase in unmarried couples purchasing a home. being 50 th ($909).

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