2018 was a heck of a year for Knoxville housing. How is 2019 Starting out? Let’s chat about it.
1. Well, for one thing, 2019 is starting out with the lowest inventory in the last 10 years. Talk about an over achiever.
2. Closings were in line with the beginning of last year and 2009, so basically pretty high for a January.
3. Active listings were slightly down, placing them at another historic low.
4. Prices were up across the board, which is a nice way for sellers to start the year.
5. Interest rates are holding steady and down payment assistance programs are still available.
6. It’s only the very beginning of a cold, wet year, but already the Knoxville real estate market is showing signs of tipping in favor of sellers. It’s going to be hard to call anything one way or another before Spring Selling Season gets in full swing.
*All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate.