Knoxville Tennessee Area Home prices are edging closer to stability, with the most recent quarter.

 Single-family construction is 20% higher. The trend shows a definite leveling off at about 12,200 units (annualized) since the beginning of 2012 (Figure 2). Among the metropolitan areas, Knoxville, Memphis, and Nashville produced the largest percentage increases in single-family homes over the year, with all three areas more than 20% higher in June 2012 compared with 2011.


Inventories of unsold homes were unchanged in Knoxville. The inventory-to-sales ratio presently is fifteen months for Knoxville.

On balance, the Tennessee housing market showed very modest improvement in the second quarter, following a stronger first quarter. Housing construction continued to grow, rebounding mildly from very low levels, but real estate transactions and mortgage activity fell. Mortgage delinquency rates fell again, continuing a long trend of improvement. http://frank.mtsu.edu/~berc/pdfs/housingbrief2Q12.pdf

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