Heading Into 2014, The Great Smoky Mountain Real Estate Market Continues to Show Slow, But Steady, Growth

Posted by Gatlin on January 9, 2014

Throughout this past year, we have seen both the national and local real estate markets continue to show slow, but steady, growth on the whole. As we look at the statistics for the Great Smoky Mountain real estate market through December of this past year, we will see that these trends, particularly in this real estate market, are largely holding steady, as we now begin into a new year. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see that in comparing December 2013 to that of December 2012, the number of residences sold held steady with an increase by 1% in terms of homes sold, in that 13 more homes were sold as of December 2013, as opposed to December 2012. This continues a trend of steadiness, and even very slight growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed reflect a steady and slowly growing trend on balance, and we see that the market continues to show gradual, but steady, growth on the aggregate.

In the category of Residential Dollar Volume for the year, we see an increase of 7% through December of 2013, as opposed to through December in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices still continue to show that a greater dollar volume in homes are being sold, along with still continuing to show a slow and strengthening market reflective of greater confidence on the part of both buyers and sellers.

There is also continued good news for sellers in the Average Sold Price Category. In line with statistics so far for the past year, prices still show a slow, but gradual, rise of 6% in December of this year versus that of December 2012, reflecting the recent local and national trends towards gradually higher home prices. As confidence continues to grow between potential buyers and sellers in the market as a whole, we see that the trend of higher home prices will likely continue for the foreseeable future.

In addition, available homes on the market are actually increasing in terms of inventory. Through December 2013, as opposed to December 2012, there is a slight increase by 1% of homes being listed as available on the market, or an increase of 29 more available homes on the market, in December 2013, as opposed to December 2012. We see that higher home prices, as well as the very slight increases in homes being sold, may be contributing to more people wanting to place their homes on the market, thereby causing a slight increase in available housing inventory. While it is still too early to tell if the trend will continue into 2014, there are more available homes on the market in December 2013, as opposed to one year ago, which could further indicate greater confidence on the part of those wanting to place their homes on the market.

As markets continue this gradual trend of growth locally and across the nation, these statistics, heading into 2014, are largely expected to remain steady, showing continued slow, but steady, strength and growth into the new year. Mortgage rates still remain at historically low rates, and there are still plenty of housing options to choose from, especially in the Great Smoky Mountain real estate market. Why not start your Great Smoky Mountain home search now by visiting our website, browsing our available properties, and seeing what the Smoky Mountain area has to offer for you? Let us help you make your home ownership dreams a reality today!

Here Are A Few of My Featured Listings:

High Chalet Condo Near Ober Gatlinburg! Contemporary, 2 BD/2 BA, well-maintained, condominium unit w/views of Ober Gatlinburg and the surrounding Smokies! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $77,900 Get more information >

Unique Chalet Adjacent to Nat’l Park! The enchanting, twinkling lights of Gatlinburg far below and majestic mountain vistas are what you’ll see from this pristine 12 acre estate. Imagine having your own 530,000 acre backyard! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $697,000 Get more information >

Unique Contemporary Home w/Mtn Views Come & enjoy this one of a kind, unique, contemporary home! This 5000+ sq ft, 4 BD/3 BA home is located just off the Parkway in Sevierville in a beautiful, private neighborhood! Type: Single Family Home Location: Sevierville,TN Price: $299,900 Get 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
Email: jason@jasonwhiteteam.com
Website: www.gatlinburgrealestateforsale.com

Heading Into December, The Great Smoky Mountain Real Estate Market Remains Steady

Posted by Gatlin on December 5, 2013

For much of this year, we have seen both the national and local real estate markets continue to show slow, but steady, growth on the whole. As we look at the statistics for the Great Smoky Mountain real estate market through November of this year, we will see that these trends, particularly in this real estate market, are largely holding steady at the present time. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see that in comparing November 2013 to that of November 2012, the number of residences sold held steady with an increase by 1% in terms of homes sold, in that 16 more homes were sold as of November 2013, as opposed to November 2012. This continues a trend of steadiness, and even very slight growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed reflect a steady and slowly growing trend on balance, and we see that the market continues to show gradual, but steady, growth on the aggregate.

In the category of Residential Dollar Volume for the year, we see an increase of 5% through November of this year, as opposed to through November in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices still continue to show that a greater dollar volume in homes are being sold, along with still continuing to show a slow and strengthening market reflective of greater confidence on the part of both buyers and sellers.

There is also continued good news for sellers in the Average Sold Price Category. In line with statistics so far for the year, prices still show a slow, but gradual, rise of 4% in November of this year versus that of November 2012, reflecting the recent local and national trends towards gradually higher home prices. As confidence continues to grow between potential buyers and sellers in the market as a whole, we see that the trend of higher home prices will likely continue for the foreseeable future.

In addition, available homes on the market are actually increasing at the moment. Through November 2013, as opposed to November 2012, there is a slight increase by 1% of homes being listed as available on the market, or an increase of 51 available homes on the market, in November 2013, as opposed to November 2012. We see that higher home prices, as well as the very slight increases in homes being sold, may be contributing to more people wanting to place their homes on the market, thereby causing a slight increase in available housing inventory. While it is still too early to tell if the trend will continue, there are more available homes on the market in November 2013, as opposed to one year ago, which could further indicate greater confidence on the part of those wanting to place their homes on the market.

As markets continue this gradual trend of growth locally and across the nation, home prices will continue their rise and housing inventory will continue to decrease. Mortgage rates still remain at historically low rates, and there are still plenty of housing options to choose from, especially in the Great Smoky Mountain real estate market. Why not start your Great Smoky Mountain home search now by visiting our website, browsing our available properties, and seeing what the Smoky Mountain area has to offer for your and home ownership dreams today?

Here Are A Few of My Featured Listings:

Luxurious Condo w/Majestic Mtn. Views! Luxurious, spacious condominium unit located at LeConte Towers in Gatlinburg, w/a majestic view of Mt. LeConte and the Smoky Mtns.! Type: Condo Location: Gatlinburg, Tennessee Price: $339,000 Get more information >

Multi-Family Duplex w/Amazing Mtn Views! Beautiful, private, 2 acre multi-family duplex with postcard-style views, and literally a majestic view of the Great Smoky Mountains from almost any room on either level! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $398,000 Get more information >

Beautiful Cedar Log Home w/Mtn View Beautiful, private, and well-maintained 4 BD/2.5 BA cedar log home located with Amazing Mountain and Natural views! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $589,000 Get 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
Email: jason@jasonwhiteteam.com
Website: www.SmokyMountainLifestyle.com

Heading Into November, The Great Smoky Mountain Real Estate Market Continues to Show Slow, But Steady, Growth

Posted by Gatlin on November 7, 2013

For much of this year, we have seen both the national and local real estate markets continue to show slow, but steady, growth on the whole. As we look at the statistics for the Great Smoky Mountain real estate market through October of this year, we will see that these trends, particularly in this real estate market, are continuing, even in spite of the recent government shutdown. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see that in comparing October 2013 to that of October 2012, the number of residences sold actually increased by 1% in terms of homes sold, in that 11 more homes were sold as of October 2013, as opposed to October 2012. This continues a trend of steadiness, and even very slight growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed reflect a steady and slowly growing trend on balance, and we expect this to continue and improve over time.

In the category of Residential Dollar Volume for the year, we actually see an increase of 6% through October of this year, as opposed to through October in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices continue to show that a greater dollar volume in homes are being sold, along with continuing to show a slow and strengthening market reflective of greater confidence on the part of both buyers and sellers.

There is also continued good news for sellers in the Average Sold Price Category. In line with statistics so far for the year, prices still show a slow, but gradual, rise of 5% in October of this year versus that of October 2012, reflecting the recent local and national trends towards higher home prices. As inventory continues to decrease, we expect average home prices to continue their slow and gradual increase, in line with both national and local real estate market trends.

In addition, available homes on the market are actually increasing at the moment. Through October 2013, as opposed to October 2012, there is an increase by 1% of homes being listed as available on the market, or an increase of 69 available homes on the market, in October 2013, as opposed to October 2012. We see that higher home prices, as well as the very slight increases in homes being sold, may be contributing to more people wanting to place their homes on the market, thereby causing a slight increase in available housing inventory. While it is too early to tell if the trend will continue, there are more available homes on the market in October 2013, as opposed to one year ago, which could indicate greater confidence on the part of those wanting to place their homes on the market.

Here Are A Few of My Featured Listings:

Spacious Riverfront Home in Sevierville Spacious, 3000+ sq ft home located along the beautiful Pigeon River, which is located right behind this home! Type: Single Family Home Location: Sevierville,TN Price: $329,900 Get more information >

Fantastic 180 Degree Smoky Mtn. Views Fantastic 180 degree view of Mt. LeConte & the Smokies from every room. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $479,900 Get more information >

Unique Chalet Adjacent to Nat’l Park! The enchanting, twinkling lights of Gatlinburg far below and majestic mountain vistas are what you’ll see from your own pristine 12 acre estate. Imagine having a 530,000 acre backyard! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $697,000 Get more information >

Latest News from the National Association of Realtors (NAR) Shows Existing Home Sales Are At Their Highest Levels Since 2007

Posted by Gatlin on October 10, 2013

Existing-home sales increased in August and reached the highest level in six-and-a-half years, while the median price shows nine consecutive months of double-digit year-over-year increases, according to the National Association of Realtors (NAR).

Total existing home sales, which include completed transactions for single-family homes, townhomes, condominiums, and co-ops, went up by 1.7% to a seasonally adjusted annual rate of 5.48 million units in August from that of 5.39 million units in July. This is also 13.2% higher than the 4.84 million units sold in August 2012, one year prior to August 2013.

Sales are at the highest pace since February 2007, when they hit 5.79 million, and have remained above year-ago levels for the past 26 months.

According to Lawrence Yun, the chief economist for NAR, “rising mortgage interest rates pushed more buyers to close deals, but monthly sales are likely to be uneven in the months ahead from several market frictions.” These could include decreasing existing home inventories, as well as more restrictive lending standards, along with the potential for higher interest rates in the long-term.

In addition, while it is unclear at this point, the ongoing government shutdown could also pose potential longer-term complications from agencies, such as FHA (Federal Housing Administration), the IRS, and others, being at least partially shutdown or closed all together. External pressures such as these also could have a longer-term impact on the market itself.

However, according to NAR President Gary Thomas, “As the equity position of most homeowners continues to improve, some who have been on the sidelines will list their home for sale,” he said. “Most of those owners also will be buying another home, but higher levels of new home construction going into 2014, combined with some reduction in demand from less favorable affordability conditions, will help to moderate price growth to more sustainable levels.”

What does this all mean for you? Right now, there are still many great properties available in the Great Smoky Mountains real market, and if you are interested in buying a new home, today is the best time for you to realize your dreams of home ownership. Please feel free to browse our available properties, and see what we can do to help you find a new home here in the Great Smoky Mountains today!

Here Are A Few of My Featured Listings:

Great Mountain View Consistently produces income in the high $20k range. Cabin with a view, tongue and groove throughout, wood floors, recreation room with pool table and air hockey for your enjoyment. Type: Single Family Home Location: Pigeon Forge Price: $239,900 Get more information >

Picture Perfect Log Cabin Almost $25,000 in rental income for 2012! Well built log cabin with privacy and only 5 miles to Pigeon Forge. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $219,900 Get more information >

Close Up City & Mountain Views Almost $50,000 in rental income for 2012! This is designed to be a year around home or an income producing rental. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $439,900 Get more information >

Recent Public Perception of Real Estate Industry Trending More Positive, and Shows Increasing Consumer Confidence

Posted by Gatlin on September 12, 2013

Based on a recent poll conducted by Gallup, the American public’s perception of the real estate industry is beginning to improve to levels not seen since 2007, before the onset of the economic downturn in 2008. The improvements in ratings of the real estate industry likely are due to the recent recovery of the housing market from the depths of the housing crisis.

In addition, this recent public opinion reversal is largely attributed, based on the Gallup survey, to broader improvement in the economy, as well as increased consumer confidence, resulting in a more positive view on the part of the public related to the real estate industry as a whole.

Furthermore, a recent report from Fannie Mae shows that, despite recent rises in mortgage rates, consumers do expect home prices to continue their recent steady rise. One additional trend worth noting is the month of July also saw where consumer credit increased $10.4 billion (or 4.4% annualized), as non-revolving credit increased 7.4% and revolving credit fell 2.6%, continuing a trend where consumer credit has increased every month since August of 2011. This indicates that credit is becoming easier to obtain, which could help in increasing consumption and economic growth. As such, this potentially bodes well for homebuilders, who have also seen recent gains, in line with increasing home prices.

What does all of this mean? We see that these trends, as well as the public’s perceptions, are continuing to show a gradual growth in real estate nationally. However, while mortgage rates have been on the rise, such rates are also still at all-time historically low levels. Therefore, why not consider looking for a new home in the Great Smoky Mountains area today, with many great homes still available to choose from? Please feel free to browse our available properties today, and see what the Smoky Mountains have to offer for you. There are many great homes still available for you to take advantage of, and you can realize your dreams of owning a home today in the beautiful Smoky Mountains!

Here Are A Few of My Featured Listings:

Spacious Home w/Great Mtn Views Spacious home full of character & detail. A vintage door from the 1890’s welcomes you inside where you will find vaulted ceilings, lots of windows and lots of unique spaces. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $359,200 Get more information >

Privacy & Mountain Views Enjoy privacy, mountain views and great outdoor spaces in this Sevierville log home. Inviting and comfortable it features soaring ceilings, a breakfast bar, tile counters in the kitchen and much more! Type: Single Family Home Location: Sevierville,TN Price: $359,900 Get more information >

Beautiful Mountain Sunsets Incredible large diameter log construction creates a special, solid, and timeless appeal. Type: Single Family Home Location: Pigeon Forge Price: $450,000 Get more information >

Heading Into September, The Smoky Mountain Real Estate Market Shows Continued, Steady Growth

Posted by Gatlin on September 5, 2013

For much of this year, we have seen both the national and local real estate markets continue to show steady growth on the whole. As we look at the statistics for the Great Smoky Mountain real estate market through August of this year, we will see that these trends, particularly in this real estate market, largely continue. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see that in comparing August 2013 to that of August 2012, the number of residences sold is unchanged, showing no increases or decreases at all. This shows and reflects a general steadiness in the real estate market, and as we look at the rest of the statistics, we will see that the market is still quite stable and we expect this to continue and improve.

In the category of Residential Dollar Volume for the year, we actually see an increase of 5% through August of this year, as opposed to through August in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices continue to show that a greater dollar volume in homes is being sold on the whole, continuing to show a gradual and strengthening market reflective of greater confidence on the part of both buyers and sellers.

There is also continued good news for sellers in the Average Sold Price Category. In line with statistics so far for the year, prices still show a gradual rise of 5% in August of this year versus that of August 2012, reflecting the recent local and national trends towards higher home prices. As inventory continues to decrease, we expect prices to continue their gradual increase, in line with both national and local trends.

In addition, available homes on the market continue to decline. Through August 2013, we see a slight decrease of 1%, or 33 less homes on the market. As activity continues to stabilize, along with the national and local trends of rising home prices, this number will likely continue to dwindle.

As markets continue this gradual trend of growth across the nation, home prices will continue their rise and housing inventory will continue to decrease. Mortgage rates still remain at historically low rates, and there are still plenty of housing options to choose from, especially in the Great Smoky Mountain real estate market. Why not start your Great Smoky Mountain home search now by visiting our website, browsing our available properties, and seeing what the Smoky Mountain area has to offer?

Here Are A Few of My Featured Listings:

Charming, Luxury Chalet w/Mtn. Views Charming, private luxury chalet located minutes from downtown Gatlinburg, as well as Ober Gatlinburg! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $229,900 Get more information >

Money To Be Made!!! Income potential with consistent rental history. $25,737 in 2009, $26,127 in 2010, $20,352 in 2011 & $22,956 in 2012. Don’t miss out on all these features! Type: Single Family Home Location: Chalet Village Price: $149,900 Get 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
Email: jason@jasonwhiteteam.com
Website: www.SmokyMountainLifestyle.com

Total Existing Home Sales in July Nationally on the Rise

Posted by Gatlin on August 29, 2013

As a further sign of continued gradual growth in the housing market, the National Association of Realtors (NAR) recently announced that existing-home sales rose strongly in July, with the median price maintaining double-digit year-over-year increases.

According to the latest NAR report regarding July’s trends, total existing home sales increased 6.5 percent to a seasonally adjusted annual rate of 5.39 million in July from a downwardly revised 5.06 million in June, and are 17.2 percent above the 4.60 million-unit pace in July 2012; sales have remained above year-ago levels for 25 months.

In addition, Freddie Mac also recently indicated that the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.37 percent in July from 4.07 percent in June, and is the highest since July 2011 when it was 4.55 percent; the rate was 3.55 percent in July 2012.

Furthermore, the national median existing home price for all housing types was $213,500 in July, which is 13.7 percent above July 2012. This marks 17 consecutive months of year-over-year price increases, which last occurred from January 2005 to May 2006. Also, based on the NAR findings, Total housing inventory at the end of July rose 5.6 percent to 2.28 million existing homes available for sale, which represents a 5.1-month supply at the current sales pace, unchanged from June. Listed inventory is also now 5.0 percent below a year ago, when there was a 6.3-month supply.

Therefore, based on the findings of the NAR for July in 2013, we foresee that home prices will continue their gradual rise, in spite of recent interest rate increases, and that housing inventories continue to slowly decrease, thereby raising the home prices as demand remains steady or increases.

There are still many great deals on homes available in the Great Smoky Mountain market, and today is a good time to look for the many properties that are available right now. If you have thought about purchasing a property in the Great Smoky Mountain region, now is the time to start looking. We invite you to browse our available properties today, and see what our area has to offer for you.

Here Are A Few of My Featured Listings:

180 Degree City & Mountain Views Produced over $14k in rental income in 2012. Very private ridgetop retreat w/wraparound covered deck that has amazing 180 degree views of the mountains & city lights. Type: Single Family Home Location: Chalet Village Price: $189,900 Get more information >

Gone With The Wind Almost $27,000 income for 2012!! If you have dreamed of having a luxury chalet on top of the mountain with sweeping views of the valley, city and mountains then you have to look at this one. Type: Single Family Home Location: Chalet Village Price: $299,900 Get more information >

National Market and Consumer Trends Show Higher Home Prices and a Decrease in Housing Inventory

Posted by Gatlin on August 15, 2013

The recent national trends of higher home prices and decreasing housing inventory continued through the month of July. According to Realtor.com, the nation experienced a 5.24% decline in housing inventory, which is the second month in a row with year-over-year inventory declines in the single digits. In addition, this report also shows that national median home listing prices increased 5.27% year-over-year while the median age of housing inventory is down 16.67% nationally. This shows a continued trend of higher home prices, while also showing a decrease in both the amount and age of housing inventory nationally.

Furthermore, according to the latest Fannie Mae Monthly National Housing Survey for July, consumers expect home prices to climb 3.9% on average over the next 12 months, holding steady from the May and June survey results. Also, the share of survey respondents who say it is a good time to buy a house increased to 74%, while those surveyed indicating that it’s a good time to sell a house increased to 40%, matching the survey high.

According to Doug Duncan, who is a Senior Vice-President and Chief Economist for Fannie Mae, “expectations for continued improvement in housing persist, and sentiment toward the current buying and selling environment is back on track from its dip last month.” In addition, Mr. Duncan also stated that “these results are consistent with our own analysis of previous housing cycles, which finds that interest rates and home prices are not strongly correlated.”

On the whole, the national trends continue to reflect a slight decrease in housing inventory, while also showing a continued rise in home prices available on the market. In view of these trends, there are many great deals available for homes in the Great Smoky Mountain market today, and right now is a good time to look for the many properties that are still available. If you have recently thought about purchasing a property in the Smoky Mountain region, today is a good time to start looking. We invite you to browse our available properties, and see what the Smoky Mountain region has to offer.

Here Are A Few of My Featured Listings:

Enjoy Resort Living In The Mountains Great rental income: 2012 – $32,195 & 2011- $24,226.Private three bedroom, three bath log cabin with great mountain views from three decks. Type: Single Family Home Location: Pigeon Forge Price: $289,900 Get more information >

Come Be A Happy Bear Over $27,000 in gross rental income for 2012! This one will make you $$$. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $259,900 Get more information >

Heading Into August The Smoky Mountain Real Estate Market Continues Its Gradual, Steady Growth

Posted by Gatlin on August 8, 2013

For much of this year, we have seen both the national and local real estate markets steadily grow and show a steady climb to positive numbers. As we look at the statistics for the Great Smoky Mountain real estate market through July of this year, we will see that this gradual trend continues. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see a slight decrease versus last year of 3%. This represents 21 less homes sold in comparison to the same period in 2012. Even with the decrease in this number, as we look at the rest of the statistics, we will see that the market is still fairly stable and we expect this to continue and improve.

In the category of Residential Dollar Volume for the year, we actually see a very slight increase through July of this year, as opposed to through July in 2012. This indicates that there is a slight increase while the number of homes shows a slight decrease, the recent trend of increasing home prices shows that a greater dollar volume in homes is being sold, showing a gradual and strengthening market reflective of greater confidence on the part of both buyers and sellers.

There is also continued good news for sellers in the Average Sold Price Category. In line with statistics so far for the year, prices still show a gradual rise versus 2012, reflecting the recent national trend towards higher home prices. As inventory continues to decrease, we expect prices to continue their gradual increase, in line with both national and local trends.

In addition, available homes on the market continue to decline. Through July, we see a slight decrease of 1%, or 43 less homes on the market. As activity continues to stabilize, along with the national and local trends of rising home prices, this number will continue to dwindle.

Here Are A Few of My Featured Listings:

Great Views & Privacy This three level cabin has consistently produced right at $30k a year in rental income every year since 2007! Located on a private lot it features a great view and a lot of windows and deck space for enjoying the scenery Type: Single Family Home Location: Pigeon Forge Price: $279,900 Get more information >

A View Second To None Over $40,000 in rental income for 2012! Aptly named A View Second To None, this chalet has breathtaking views of Mt. LeConte. Located just minutes to downtown Gatlinburg & Ober Gatlinburg Ski Resort. Type: Single Family Home Location: Chalet Village Price: $259,900 Get more information >

Home Prices on the Rise Nationally Show a Strengthening Housing Market

Posted by Gatlin on August 1, 2013

Over the last year, U.S. home prices have jumped 12.2% as of May of this year, from that of May of 2012, which represents the largest annual gain since March of 2006. In addition, to reflect this recent trend, the Standard & Poor’s/Case-Shiller 20-city home price index released on Tuesday surged 2.4% in May from that of April, all in 2013. Furthermore, these price increases were widespread, where all 20 cities measured by the S&P Index showed gains over a month’s time, from April to May in this year.

The S&P Index covers roughly half of all U.S. homes, and measures prices compared with those in January of 2000, along with creating a three-month moving average. The May index figures, as noted here, are the latest figures available. Despite a recent increase in mortgage rates, especially since early May, the figures noted by the S&P Index have not been significantly impacted, and still show a general trend towards rising home prices across the nation.

The factors behind these home price increases primarily center on more people bidding on a scarcer supply of home that are available for sale, indicating a shrinking housing inventory nationally. In addition, steady price increases, along with stable job gains and historically low mortgage rates, have encouraged more Americans to buy homes. Also, with higher home prices, more sellers are able to put their homes on the market, which creates greater supply and contributes to the ongoing gradual housing recovery that is now currently underway.

What does all of this mean? The national trends, as reflected by the recent S&P Index, show a steady growth in the housing market, and continued strength in home prices across the board. For both buyers and sellers, the market appears to be more receptive at the present time, and is showing gradual gains amidst an ongoing economic recovery.

There are still many great deals on homes available in the Great Smoky Mountain market, and right now is a good time to look for the many properties that are available right now. If you have thought about purchasing a property in the Great Smoky Mountain region, today is a good time to start looking. We invite you to browse our available properties that we have in the area.

Here Are A Few of My Featured Listings:

Beautiful Log Cabin w/Mtn. Views Brand new log cabin w/ 2 BD/2 BA, located just 2 mi. from the Downtown Gatlinburg Strip, & is w/in walking distance to the Gatlinburg Community Center. Type: Single Family Home Location: Gatlinburg,Tennessee Price: $259,900 Get more information >

Unique Sevierville Home w/Large Backyard Beautiful, masonry-style, 3 BD/2.5 BA, 3700+ sq. ft. home located within minutes to Dollywood! Type: Single Family Home Location: Sevierville,TN Price: $339,900 Get more information >

Remodeled Condo w/Amazing Mtn Views This contemporary style 2BD/2BA home offers practically a bird’s eye view of the ski slopes at Ober Gatlinburg plus an unparalleled exhibit of the Great Smoky Mountains! Type: Condo Location: Gatlinburg,Tennessee Price: $209,900 Get more information >

The Jason White Team

Century 21 Four Seasons Realty

1441 Wiley Oakley Drive

Gatlinburg, TN 37738

Toll Free: 877-678-2121

Fax: 865-436-7227

Email: jason@jasonwhiteteam.com

Website: www.SmokyMountainLifestyle.com

Tag: Real estate statistics