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Old 02-24-2016, 08:00 AM
 
Location: Kingsport, TN
1,697 posts, read 6,154,226 times
Reputation: 1750

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We’ve closed the books on 2015, and it was the best year for home sales since the Northeast Tennessee Association of Realtors began its Trends Report. Compared to 2014 sales, 2015 sales were up 9.6 percent.

...Kingsport, Bristol, VA and Erwin saw double-digit growth...Four county markets, Carter, and Washington counties in TN and Washington, and Wise County in Virginia saw double-digit sales increases.

Northeast Tennessee housing market closes 2015 as a record year | Northeast Tennessee Association Realtors

The share of local equity-rich homes at the end of 2015 was considerably higher than state or national shares. And that equity position for the overall housing market is much stronger when you remember that close to half of all local homes don’t have a mortgage.

...Locally, all markets except Bristol VA and Washington VA had a higher share of equity-rich properties. Sullivan County remains the county with the highest share of equity-rich properties in NE Tenn.

Equity positions for most local housing markets higher than national, state levels

Kingsport-Bristol sales tax collections were again on the upswing in December. The four-county MSA’s year-to-year change put it second to Nashville for the best state-wide December performance.

Collections in the three-county Johnson City MSA were a little off their November pace but in line with the more moderate growth when compared to Kingsport-Bristol. Together, they gave the Tri-Cities 5.9% growth from December last year and the ninth straight month of year-to-year gains.

Kingsport-Bristol Dec. sales tax collections soar, increase at slower pace in Johnson City MSA

An earlier post that examined household income and benefits in the 2008-2014 recession recovery period illustrated how Kingsport-Bristol weathered the recession better than the Johnson City MSA. A deeper dive into that data shows how the recovery is remodeling the two regions. It also illustrates the gap between some groups widened and how household wealth is becoming more concentrated.

...By 2014 Kingsport-Bristol had the highest share of all the high-income groups except $200,000 above, which contracted in the Johnson City MSA.

Kingsport-Bristol sees most vigorous Tri-Cities high-income household growth during recovery
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