Knox County real estate transfers for the week of June 7th
By Jim Lee, REALTOR, CRS, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
The first full week of June turned out to be a fizzle for real estate transfers recorded at the Knox County Register of Deeds office, dropping to just 50 recorded transfers from a high of 187 back on April 12 of 2009. In fact I believe 50 is the worst week we’ve had thus far in 2009. Here's a graph with some past week's totals to compare: Historically May and June have both been pretty strong sales months so just what the heck is happening now. I believe the main factors depressing our market and sale is an overwhelming lack of consumer confidence towards buying big ticket items like houses, a continuing climb in unemployment numbers, and unfortunately, plunging home values driven by distressed sales (foreclosures & short sales) which now account for 45% of the market. If someone in...
Comments
0