The index is based on data from the Northeast Tennessee Association of Realtors (NETAR). It reflects the number of homes under contract but not yet closed, offering a forward-looking indicator of near-term sales activity.
There were 827 pending sales last month up from 733 in 2018. While the rate of growth has varied year-to-year, the steady upward trajectory reinforces the underlying strength of buyer demand in the Tri-Cities housing market. It also underscores a continuing trend toward normalized but stable activity levels, with pending sales returning to pre-pandemic momentum and showing positive year-over-year performance.
If pending sales growth becomes more consistent price trends favor sellers in the $250K–$399K range, while the lower tiers remain underserved.
An analysis of the pending sales prices shows the local market continued reflecting price-sensitive buyer behavior with stronger activity concentrated in mid-to-upper price ranges. While overall pending sales showed mixed signals across price ranges, notable gains occurred in segments above $250,000. Year-to-date comparisons indicate a shift in demand away from the lowest tiers, with inventory pressure easing in several key brackets.
Top Performing Segments May 2025 v. May 2024:
- $300,000–399,999:
Pending sales increased 35.7% from last year. It was the strongest growth among all price segments. - $250,000–299,999:
This price tier had a 19.4% increase from last year with 151 pending sales for the month. - $200,000–249,999:
This key affordable housing market price tier had 161 pending sales, up 15.8% from last year.
Lagging Segments
- Under $100,000:
All brackets below $100K continued to shrink in share and sales activity. For example. - $500,000–749,999:
Despite a slight 5.3% increase the year-to-date total slipped 4.1%, suggesting erratic upper mid-level demand.