Tri-Cities home sales post fourth straight record-breaking month in August

The Tri-Cities housing market began a seasonal downshifting in August, but home sales were still firmly in record-setting territory.

According to the Northeast Tennessee Association of Realtors’ August Trends Report, closings on previously owned, single-family homes posted their third straight month of double-digit gains and fourth straight month of seven-year highs.

There were 516 closings last month, down from July’s 555 record. But when compared to August last year, closing were up by 60. The year-over-year sales pace rocketed to record levels in May with a 9.9 percent increase, followed by a 22.1 percent increase in June, 16.8 percent in July and 13.2 percent in August.

So far the year there has been 3,491 closings. That eight-month total is more than the annual sales volume for 2009, 2010 and 2011. It’s also the first time sales have exceeded pre-recession levels for four straight months.

CLICK HERE for the full report


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