Each month, HVF Monthly Housing Market Report uses a number of leading real estate market-based indicators to report on activity in the single-family home markets in the top 200 metropolitan areas (CBSAs) in the U.S.
Welcome to Knoxville: A Top Ten Metro Driven by Strong Market Fundamentals
With typically top metro’s Seattle, San Francisco and San Jose experiencing some slowdown from their torrid pace over the past several months, January’s Top Ten welcomes a host of newcomers into the mix.
All of the Top Ten metros in this month’s report have shown market indicators trending in a positive direction. Of the ten, Knoxville, Tenn., is a prime example of a metro once again being driven by supply and demand market fundamentals.
Prices in the Knoxville metro have been steadily increasing for the last five years:
One reason for this is that foreclosures are down, no longer flooding the market with underpriced homes:
And as we’ve seen with many other metros, employment plays a large part in supply-demand market fundamentals:
On January 9th, Discovery Communications announced it will move its national operations headquarters to Knoxville. This, combined with the city’s positive 2018 business forecast, make us believe that home prices will continue to rise.
Interested in learning more about Knoxville or another one of the metros featured in this month’s market report? Contact SVI for more in-depth information on each CBSA included in this month’s report.
About Stewart Valuation’s Monthly Market Report
The Home Value Forecast uses a ranking system that is purely objective and is based on directional trends of nine market indicators. Each indicator is given a score based on whether the trend is positive, negative or neutral for that series. For example, a declining trend in active listings would be positive, as will be an increasing trend in average price. A composite score for each CBSA is calculated by summing the directional scores of each of its indicators. From the universe of the top 200 CBSAs, each month we highlight topics and trends in the real estate market.
