Johnnie Creel & The Creel Group

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Home Price Gains Stabilize

Knoxville Real Estate Market TrendsAccording to the National Association of Realtors (NAR) data, the slow rise in home prices have reached a somewhat stable position, rising at only 4-6% since April 2014. Prior to April, home prices were rising at a much faster rate of 10%, and this “stabilization” indicates that now truly is a great time to buy a home in Knoxville. The supply of homes is historically lower through the winter, but my business is remaining active for both buyers and sellers. In fact, I am seeing more buyer activity in October than I did in September!

The National Association of Realtors (NAR) noted the following about home prices from August to September 2014:

The median existing-home price fell in September to $209,700, down from $219,800 the previous month. Although the median price fell slightly, it is still up 5.6% from 2013. Home prices have now risen on a year-over year basis for 31 consecutive months. In the Southern region, prices were $180,900, down from August’s $186,700 but 5.1 percent higher year over year.

With mortgage rates recently dropping and the “stabilization” of prices, buyers should lock in their rate now, and come in for our buyer’s consultation, so we can start looking for that perfect house, before it gets snatched up! We will send you the information on new listings, as soon as they come on the market, and my buyer’s specialists will schedule appointments to view the listings as soon as you say the word! We still have appointments this week!

Click here to see the latest homes for sale in Knoxville!

Read more from Keller Williams’ blog on this topic.


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