When people I meet find out that I'm a real estate professional, one of the questions I almost always get is , "Seriously, how is the real estate market in Knoxville?"
Well, seriously, yes, things are getting better. Good enough that Knoxville made the National Association of Home Builders improving markets monthly list.
The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. This month’s IMI showed some considerable shifting of markets on and off the list, with 52 metros holding on to their spots, 48 slipping from the list and 28 being added. Notable new entrants to the improving list in June include Tuscaloosa, Ala.; Grand Junction, Colo.; Fargo, N.D.; Knoxville, Tenn.; and Dallas.
It is nice to be recognized nationally, as our real estate market strengthens.
Strengthening markets is just one of the reasons I like to write up neighborhood market reports each month. Readers of this space, and searchers that land here, have the opportunity to see how a specific neighborhood is faring.
So, while the real estate market in Knoxville TN is strengthening, one of the key factors is that houses are priced according to what the market (you buyers) will pay. There has been some up-swing in average home prices, which is why Knoxville, TN made the NAHB list of improving markets. Now, to stay on the list!