More Homes to Choose From…
The total housing inventory in the Greater Knoxville area is up over 42% from last year. This is good news for home buyers who were frustrated due to the lack of available homes on the market. For most home sellers, you can likely expect longer days on the market and fewer multiple-offer scenarios.
That said, home prices and the rate of home sales are both up slightly from last year. Overall demand for homes in our area does not appear to be slowing anytime soon. Many factors account for this trend, but the 2 most prevelant are related to declining mortgage interest rates and access to higher-paying jobs in the Knoxville area.
The Knoxville housing market remains strong with a positive outlook heading into 2025. Based on the current numbers, those expecting a major market crash in our area may be waiting a long time…
