The East Tennessee real estate market is evolving, with significant shifts that impact both buyers and sellers. Whether you’re looking to purchase your dream home or sell your property in Knoxville or the surrounding areas, understanding current market conditions is essential for making informed decisions. The Knoxville Housing Market: By the Numbers Recent data shows […]
Year Over Year Change in Rent Prices in Tennessee’s Biggest Cities
The latest insights from Rentometer.com reveal that the average rent for three-bedroom single-family rentals (SFRs) in Knoxville hit $2,235 in Q3 2023, marking a 3% increase from last year. In contrast, a 3-BR apartment averaged $1,799 during the same period. Notably, Knoxville leads the five largest Tennessee cities with the largest year-over-year rent increase for […]
U.S. Average 30-Year Mortgage Rates and the Outlook for 2024
As a real estate professional, it’s important to understand the dynamics of mortgage rates and their impact on the housing market. This year, we’ve witnessed U.S. mortgage rates soar to their highest since 2001, culminating in a significant quarter-point increase from last year, even jumping over 8% in October. This uptick has directly contributed to […]