WXIS News

Tight Housing Market

People looking to buy a home in the Tri-Cities are facing some fierce competition as realtors say inventory is low and moving fast. Although July brought a brief cooling-off period, realtors expect this trend to last a while longer.‘It’s a frustrating time’ for Out-of-state buyers looking at a tight housing market according to Karen Randolph with Century 21 Legacy in Johnson City housing prices have reached a 40-year record high. Even with those high prices, she and other realtors in the area are seeing about 52% of homes sell for above the asking price.For instance a home that sold for 100-tho0usand dollars a year ago is now selling fro 117-thousand dollars.

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