THE NUMBERS DON’T LIE…
Despite housing inventory being up over 33% from this time last year, home prices have remained steady. This shows us that there is still a high demand for homes in the Knoxville area.
And while it’s taking longer for homes on the market to sell, and the days of multiple offers coming in tens of thousands of dollars over the list price are gone, it is still a good time to sell your home in this area.
As for mortgage rates, they’ve trended downward over the past 30 days. Last month, 30-year mortgage interest rates were well over 7%. This month, they’re well below 7%. Hopefully this trend continues, but with so much uncertainty in the current economy, it is next to impossible to predict where interest will go.
