Who is buying Knoxville & Farragut homes in 2008?
Not surprisingly it’s the same people that were buying them last year; there’s just not as many this year.
Married couples still make up the overwhelming majority of the Knoxville area buying market and that group is trending toward younger, first time buyers.
No surprise there either. With interest rates so attractive right now many buyers are discovering they can buy a home and end up with a payment several hundred dollars less than they’re currently paying in rent.
Coming in second in buyers that buy are single women; a trend that has remained constant for the past several years. Single women buy about 20% of Knoxville’s homes.
Single guys aren’t doing that well; only 9% of the buyer group are the guys. One has to wonder if they’re spending their money on the single women. 
Minorities are buying Knoxville area homes as well.
African-Americans make up 7 percent of the home-buying populace; Hispanics and Latinos are 6 percent, and Asians and Pacific Islanders are 5 percent.
With the recent chaos and resulting clampdowns in mortgage guidelines, investors are not in the market now in such large numbers as before. Also, low down payment loans and jumbo loans are getting tougher to qualify for.
If you’re a Knoxville couple, single, minority, or a combination, and you are looking for a new home, KnoxvilleMLS.com is a great place to begin your search.
I also have a free “Homebuyer’s Toolkit” published by the Real Estate Buyers Agents Council (REBAC) that I would be glad to give you. It’s packed full of valuable information for homebuyers such as:
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Please call or email me with any real estate questions and to view any homes of interest.
As an “Accredited Buyer Representative” (ABR), I’m well qualified to represent you in your new home purchase and ensure you get the best house for your money.
