How are Knoxville home prices up and affordability as well? Recently released data from the July Existing Home Sales release published in late August states that median priced existing homes have increased in price by 9.4% from one year ago. With that being said, you as a Knoxville home buyer might ask yourself, have I missed the best time to buy? The answer is no. Why, do you ask. Because while prices are up from one year ago, mortgage interest rates are down nearly a full percentage point and according to recent economic data, incomes are modestly up.
All of these factors are used to calculate the “Housing Affordability Index”.
Are you ready to take advantage of this incredible time of affordability? Call or text us today at 865-236-1333.