Reading or listening to the national news you would think the entire United States real estate industry is down the proverbial tubes.
"Lender bankruptcies", "National real estate market down", "record foreclosures", etc., etc.
Sure, there are areas where the local economy is not the greatest and there are also areas where buyers have gone into some unwise loans and unfortunately might lose their homes, but there are also lots of bright spots in the real estate market too.
My area of Knoxville, Tennessee seems to be one of them. The graph below represents the 2nd quarter sales report for a median priced, 3 bedroom Knoxville home for the past 9 years. The trend has been up for those years as well as all the years beyond.
Here's the year by year breakdown:
2nd Quarter 1999
2nd Quarter 2000
2nd Quarter 2001
2nd Quarter 2002
2nd Quarter 2003
2nd Quarter 2004
2nd Quarter 2005
2nd Quarter 2006
2nd Quarter 2007
Nothing too shabby about those numbers for slow, steady appreciation.