06/16/2026
Tri-Cities home prices climb; US economy's strong job growth run continues
Home prices in the Tri-Cities rose at a moderate pace in May, and the number of sales stayed flat from a year ago, according to the Northeast Tennessee Association of Realtors®. The median sale price reached just under $300,000 in May, up 4.8% from May 2025. The average sale price reached $344,698, up 3.7%. The update to include late closings boosted the monthly sales to 799, up 1.3% and the median sales price to $300,000, up 4.9%. There was also an update of the city-community market sales and prices at https://www.facebook.com/photo/?fbid=1688732969452008&set=a.594593988865917
Meanwhile, foreclosure filings fell to 15 in May, the lowest monthly count of the year and nearly even with the 14 filings recorded a year ago. https://donfenley.com/2026/06/11/tri-cities-foreclosures-cool-in-may-as-national-filings-keep-climbing/
Last Friday, Don Fenley analyzed what the Tri-Cities commercial real estate market in the region’s two metro areas looks like so far this year. Yesterday, he reported that Tri-Cities manufactured home prices increased last month, while the number of sales eased.
Those reports can be found at https://donfenley.com/2026/06/12/the-tri-cities-commercial-market-big-picture/
And
https://donfenley.com/2026/06/15/tri-cities-mobile-prices-up-sales-do/
The U.S. economy added 172,000 jobs in May, exceeding expectations. The most recent jobs report provided reassurance that the labor market may be stabilizing after a year of weak job growth. The White House celebrated the stronger-than-expected June 5 report, saying the hiring uptick shows the economy remains strong. And as the United States and Iran agreed Sunday on a deal to resolve their conflict and reopen the Strait of Hormuz, U.S. stocks soared Monday.
