CORE DATA

Tenn. jobless rate drops to 7.1%

Tennessee’s preliminary October unemployment rate is 7.1%, two tenths of a percent lower than September. Over the past year the state unemployment rate has decreased from 8.1% to 7.1% while the national rate declined from 7.2% to 5.8%. Total nonfarm employment increased 7,900 jobs from September to October with the largest increase coming in trade/transportation/utilities, […]

Kingsport-Bristol Oct. foreclosure filings up, Johnson City MSA sees decline

 By DON FENLEY Foreclosure filings – default notices, scheduled actions and bank repossessions – were up 29.5% in the Kingsport-Bristol MSA and down 18.4% in the Johnson City MSA when compared to October last year. The numbers come from the October RealtyTrac Foreclosure Market Report. That report shows new filings were down 8% compared to […]

Johnson City MSA retains top 10 spot on Leading Market Index; Kingsport-Bristol almost a national average

By DON FENLEY The Johnson City MSA retained its spot among the top housing markets in the nation on the National Association of Home Builders/Frist American Leading Markets Index (LMI) in Q3 while Kingsport-Bristol’s market was at 88% of its normal economic and housing activity. Nationwide, markets in 59 of the approximately 350 metro areas […]

Tri-Cities cash home sales continue at brisk pace in Q3

By DON FENLEY Tri-Cities cash single-family home sales continued at a healthy clip in Q3. RealtyTrac’s Q3 Institutional and Cash Sales Report shows the share of those sales higher than the national share in all but Washington Co. TN where it was 0.07 lower. The national share was 33.9%. Institution investors bought fewer homes in […]

Sept

CoreLogic HPI mirrors NETAR data showing softer home prices

By DON FENLEY CoreLogic’s September Home Price Logic mirror’s the NETAR Trends Report trendline that shows home resales prices softening in September. The Trends Report showed September’s average year-to-date sales price dropped 5.9% when compared to last year. CoreLogic’s all-sales home price index for the Kingsport-Bristol MSA was 3.5% better than September last year and […]

Tri-Cities new commercial construction slows in Q3, Sullivan Co. leads region in new permits

By DON FENLEY Commercial construction in the Tri-Cities slowed during Q3 when compared to last year. According to The Market Edge’s current Commercial Building Permit Summary, there were 159 permits pulled in Q3 compared to 167 last year. Year to date, 487 permits have been issued in the seven county region compared to 511 during […]

Q3

Sullivan Co. new home construction edges ahead of Washington Co. as permits decline

Washington Co. continues to lead region for new high-end homes  By DON FENLEY The Tri-Cities new home industry gave up last year’s gains, according to the newly released market summary from The Market Edge. Compared to Q3 last year, year-to-date new residential permit totals for the first nine months of this year are down 19.4% […]

Tri-Cities has big Q3 increase in zombie forclosures

By DON FENLEY Halloween is an oddly appropriate time for a dramatic increase in zombie foreclosures here in the Tri-Cities, but that’s what the numbers show. According to RealtyTrac’s Q3 Zombie Foreclosure Report, 117,298 homes actively in the foreclosure process had been vacated by the homeowners prior to a completed foreclosure. That’s 18% of all […]

Foreclosure, delinquent mortgage rates continue trending lower in Kingsport-Bristol, Johnson City MSAs

By DON FENLEY Foreclosure rates in both the Kingsport-Bristol and Johnson City MSAs continued performing at under 1% according to the current CoreLogic Foreclosure and Delinquent Mortgage Report. Both the foreclosure and delinquent mortgage rates saw a small month-over-month increase in August but continued trending lower on the year-to-year trend comparisons. The rate of Kingsport-Bristol-Bristol […]

Q3 rich

Most Tri-Cities areas in Q3 equity rich class

By DON FENLEY All but one Tri-Cities jurisdiction in RealtyTrac’s Home Equity and Underwater Q3 Report were in the top equity position – equity rich. And the one area below the national average – Bristol, VA, was almost there. Nationwide 20% of the homes in the study fit in the equity rich class.  Collectively these […]

Sept Tri-Cities

Kingsport-Bristol only state MSA with Sept. sales tax collection decline

By DON FENLEY The Tri-Cities economy continued marching to its own drummer in September. Seasonally adjusted sales tax collections in every MSA in the state increased with the exception of Kingsport-Bristol. Year-over-year there were down 2.8%. Compared to August they were down 10.1%. The data comes from the MTSU’s Business and Economic Research Center. Collection […]

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