From time to time, along a focus on the local real estate market here in the Great Smoky Mountains, it is also important to know what is going on nationally in terms of real estate, especially since what happens on a national level inevitably impacts what happens here in the local real estate market. Today, we will highlight some of the national trends that have happened over the first couple of months of 2014, particularly in terms of the national level in the real estate industry.
The first of these trends focus on the ongoing trend of rising home prices, which we have previously spotlighted in previous blog posts. In January 2014, for example, according to the S & P/Case-Shiller Home Price Indicies, home prices were in fact 13.2% higher that they were a year ago, even though this is still 20% off of the peak shown for home prices back in 2006. While the rise in home prices has been noticeable over the past few months, it is generally seen a slow, gradual rise by many experts, indicating the national market, while still not to the levels it was prior to the 2008 economic downturn, is beginning to show signs of gradual, steady growth over the long-term.
The second of these trends nationally since the start of the year relates directly to greater confidence on the part of potential sellers of homes. According to a recent survey conducted by Redfin, 38% of respondents indicated that there was an increased confidence on the part of potential sellers of homes, and also indicated that the first quarter of 2014 would be a good time for selling their home. Such confidence, as noted here, could lead more people place their homes back on the market, especially since home prices are on the increase in many markets. In addition, confidence on the part of home builders is also increasing nationally, as well, with more home builders beginning to express greater confidence in terms of the market as a whole, reaching levels of confidence that have not been since 2008.
The last of these national trends focuses on the purchases of new homes, which actually showed an increase of 9.6% to a 468,000 annualized pace, according to figures from the U.S. Department of Commerce, showing the greatest increase in new home sales since 2008. In addition, the median sales price increased 3.4% from January 2013 to January of this year, according to the same Commerce Department report. While not at the levels it was prior to 2008, this recent data collectively shows that there are signs of recovery in the real estate market as a whole, and even includes slow, but steady, growth, as previously discussed in earlier blog posts.
With this information in mind, particularly in regards to the current state of the national real estate market, why not see what the Smokies have to offer for you today? Please feel free to browse our Featured Properties, and see what The Jason White Team can do for your home ownership needs! In addition, you can also browse our Team website, to learn more about who we are and what we can do for you. You can also make us one of your first “Likes” on Facebook today by visiting our Team page! Let The Jason White Team help you realize your home ownership dreams today!
Here Are A Few of My Featured Properties:
Beautiful, Private 3 BD/3 1/2 BA, Log Cabin Located in Scenic Wears Valley! Amazing views of the surrounding Valley! Includes living/dining rm, upstairs loft, & virtual, 180-degree views from front deck. Great value in a beautiful & tranquil setting! Type: Single-Family Home Location: Sevierville, TN Price: $289,900 For more information >
Spacious, 4 BD, 3 BA Mountain Chalet Only Mins. to Dwtn. Gatlinburg! Made $12,000 in rental income in just 2013 alone! Breathtaking views of the Smoky Mtns.! Includes Large Rec Rm, large living/dining rm, full kitchen, & much more! Spacious home & great location! Type: Single-Family Home Location: Gatlinburg, TN Price: $159,900 For more information >
Beautiful, Custom-Built Lakefront Home w/Amazing Views! Located on scenic Douglas Lake; has outside gardens w/commercial outdoor kitchen, gazebo, boat dock & ramp, & much more! Incl. spacious living rm, full kitchen, & lots of custom-built features throughout. A must see! Type: Single-Family Home Location: Sevierville, TN Price: $925,000 For more information >
The Jason White Team
Century 21 Four Seasons Realty
1441 Wiley Oakley Dr
Gatlinburg, TN 37738
Toll Free: (877) 678-2121
Fax: (865) 436-7227