KNOXVILLE, Tenn. (WVLT) Home sales are heating up around the country. It's a fresh sight after the housing bubble burst in late 2007.
"We are definitely seeing an increase of home sales in Knoxville, especially in the last 6 months," said Whitney Ray-Dawson of Weichart Realtors. "Fewer homes on the market and just as many, if not more buyers competing for those homes."
The last few months have brought a shift from a buyer's market to a seller's. Historically low interest rates are bringing in buyers while less people are putting homes on the market. Even so, sales continue to climb.
Last year's sales were up nearly 25% from 2011. The first quarter of this year was 15% above last.
Sunday's open houses showed a steady stream of families ready to buy despite a summer downpour.