April 2011 Blog Posts (2)

Housing Affordability Index Reaches a Record High

One of the upsides of a real estate correction like the one we are seeing is that for those that are in the market to buy a home, they have become far more affordable in recent years.  Couple that with low interest rates and we are seeing a buying opportunity that has rarely, if ever, been present in our lifetimes.

 

A Housing Affordability Index of 100 represents the ability of a median income family to afford a median priced home.  As the index goes up, affordability…

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Added by Rich Tierney on April 27, 2011 at 10:03am — No Comments

March Numbers

March saw three homes in Sequoyah Hills transfer ownership.  The average price per square foot for the March transactions was $136 as per information in the Knoxville MLS.  In 2010, three homes were sold in the month of March with an average price per square foot of $140.  A slight decrease, but the volume is still pacing at the same or better than 2010.  April will start to tell us which direction this spring will take us...

Added by Rich Tierney on April 20, 2011 at 3:03pm — No Comments

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