Market news
A plain-English roundup for Tri-Cities buyers and sellers — the local numbers that matter, plus the national trends behind them. Updated as new reports come out.
Last updated Jun 16, 2026
Northeast Tennessee
The Northeast Tennessee Association of Realtors reported May closings essentially flat from a year ago at roughly 790 sales, while median prices continued posting modest single-digit gains across the region.
NETAR (Northeast Tennessee Association of Realtors) ↗Manufactured housing bucked the slowdown on price, with the regional median reaching $225,000 — up about 5.9% year over year — though volume fell as some sellers offered concessions to close deals.
NETAR (Northeast Tennessee Association of Realtors) ↗Local market analyst Don Fenley notes most Tri-Cities commercial sectors remain tight, benefiting property owners while limiting choices for tenants, even as overall inventory slowly builds.
Don Fenley / CoreData ↗United States
Existing-home sales rose 3.2% in May to a 4.17-million annual pace, the strongest since December, as the national median price climbed to $429,300 and supply held near 4.5 months. Chief economist Lawrence Yun said more Americans are on the move.
National Association of Realtors ↗Freddie Mac's weekly survey put the 30-year fixed at 6.52% and the 15-year at 5.84%, both edging up from the prior week, even as stronger hiring helped push existing-home sales to a five-month high.
Freddie Mac (PMMS) ↗Lender-quoted mortgage rates slipped to roughly 6.54% on the 30-year fixed — their lowest in about a month — as a pullback in bond yields and oil prices pulled borrowing costs lower.
Mortgage News Daily ↗Rates and prices shift week to week. For a straight answer on what today's market means for buying or selling your home, reach out — no pressure.
Summaries are written in-house; figures belong to the linked sources. Headlines link out to the original reporting.
