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Fewer homes for more buyers keeps East Tenn. housing market hot
(WVLT) --East Tennessee's housing market has stayed strong in 2017 ... He said for several years, new construction has been down, so there are not as many homes for buyers to choose from. Buyer's agent Karen George also said it is a challenging time ...
KNOXVILLE, Tenn(WVLT) -- East Tennessee's housing market has stayed strong in 2017, since its earlier ranking as one of the top markets in the country per Zillow
This winter, the president of the Knoxville Area Association of Realtors, Jeff Grebe, said it is definitely a sellers' market He said in November 2017, sales were up, while listed properties were down.
Grebe has been helping Joann Vaughn find a home where she can downsize and be comfortable, and her daughter, Mary Halley, has been helping her Halley said,
"We haven't found a lot available," Halley said"We understand part of that is the time of year, this being the holidays."
Grebe explained that it is more than that, with a big gap between supply and demandHe said for several years, new construction has been down, so there are not as many homes for buyers to choose from.
Buyer's agent Karen George also said it is a challenging time for buyers, with less selection than they've had in the past She encouraged people to consider using their own agent to buy, which does not cost them any additional fee
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