In today’s video, we dive into the East Tennessee real estate data for the month of March 2022 to see how the East Tennessee housing market is doing compared to one year ago. We will look at the inventory of active homes for sale in East Tennessee. Homes for sale in Knoxville TN, homes for […]
Outlook on the 2021 Housing Market by 4 Experts
The housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect Knoxville real estate to continue showing such promise? Here’s what four experts have to say about the year ahead. Lawrence Yun, Chief Economist, National Association of Realtors (NAR) “In 2021, I think rates […]
Don’t Let Buyer Competition Keep You from Purchasing a Home in Knoxville
This year’s record-low mortgage rates sparked high demand among homebuyers in Knoxville. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home in Knoxville to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on […]
Will Mortgage Interest Rates Remain Low Next Year?
In 2020, buyers in Knoxville got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping below 3% for the first time ever while making buying a home more and more attractive as the year progressed (See graph below):When you continually hear how rates […]
Chances of Another Foreclosure Crisis in Knoxville? About 0%
There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis in Knoxville like the one we experienced after the housing crash a little over a decade ago. However, there’s one major difference this time: a robust forbearance program. During the housing crash of 2006-2008, many felt homeowners should be […]
Homes for Sale in Knoxville Are Disappearing Rapidly
Through all the challenges of 2020, the Knoxville real estate market has done very well, and purchasers are continuing to take advantage of historically low mortgage rates. Realtor Magazine just explained: “While winter may be typically a slow season in real estate, economists predict it isn’t likely to happen this year…Low inventories combined with high demand due to […]
Winter Will Bring a Flurry of Activity to the Knoxville Housing Market
In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes: “It will be one of the best winter sales years ever.” The typical winter slowdown in the housing […]
Is it Safe to Sell My House in Knoxville Right Now?
In today’s real estate market, the buzz is all about how it’s a great time to sell your house. Buyer demand in Knoxville is high, and there simply aren’t enough homes available to buy to meet that growing need. This means now is the time to make a move so you can close the deal on your ideal terms. Even […]
Real Estate Is One of the Top Driving Forces in the Economy
As the economy recovers from this year’s health crisis, the housing market is playing a leading role in the turnaround. It’s safe to say that what we call “home” is taking on a new meaning, causing many of us to consider buying or selling in Knoxville sooner rather than later. Housing, therefore, has thrived in […]
4 Reasons Why the Election Won’t Weaken the Knoxville Housing Market
Today, Americans will decide our President for the next four years. That decision will have a major impact on many aspects of life in this country, but the residential real estate market in Knoxville will not be one of them. Analysts will try to measure the impact feasible changes in regulations might have on housing, […]
Buyer Interest Is Growing among Knoxville’s Younger Generations
The demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes in Knoxville. In a normal year, the peak homebuying season comes to a close by early fall. However, 2020 is anything but a normal year, and the housing market is no exception. Lawrence Yun, Chief Economist for the National […]
Why Today’s Options Will Save Knoxville Homeowners from Foreclosure
Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. Some originally forecasted that up to 30% of homeowners would choose to enter forbearance. Less than 10% actually did, and […]
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