Q4 2025 Market Pulse Survey Results
The Market Pulse Survey is a poll of licensed real estate professionals and members of the East Tennessee REALTORS®. The Q4 2025 iteration of the survey was conducted online from January 27 to February 10, 2026, and received a total of 144 responses.
Please note: this analysis is comparing Q4 of 2025 to Q3 of 2025, as opposed to a year-over-year comparison to Q4 of 2024 due to data inconsistencies.
Key Findings
Contrary to typical fall trends, buyer and seller traffic continued to increase for our members in the third quarter of 2025. 40% of respondents reported seeing more seller traffic than this time last year, compared to just 29% in Q3 2024. The number of members seeing increased buyer traffic also improved, with 19% of respondents reporting more traffic than this time last year compared to 14% in 2024.
Despite a slow start to the year, REALTORS® are feeling optimistic. The substantial jumps in sales year-over-year have narrowed as the market returns to normal growth, but we still saw marked improvement over 2024. 71% of respondents expected seller traffic to stay the same or increase, compared to 67% in 2024. 58% expect buyer traffic to remain steady or increase, compared to 54% in 2024.
56% of respondents expect home prices to rise in the next year, down from 61% in Q3 2024.
Same-county moves have begun to outpace people moving from other counties or states, with 52% of respondents reporting same-county moves over just 33% last year.
Open-format responses about customer feedback indicate a continued rise in cash buyers, and that many customers who are financially ready to buy are still waiting for the perfect listing. Members also noted that sellers must become more realistic about pricing strategy with more inventory on the market, and that more transactions are beginning to require concessions. Generally, members feel that buyer confidence remains a challenge, even as the market is expanding with more options for buyers.
| Market Outlook | Q4 2025 | Q3 2025 | ||
| Percent of respondents who expect a year-over-year increase in buyer traffic in next 3 months | 43% | 29% | ||
| Percent of respondents who expect a year-over-year increase in seller traffic in next 3 months | 41% | 32% | ||
| Percent of respondents who expect home sales to increase over the next year | 64% | 50% | ||
| Percent of respondents who expect home prices to increase over the next year | 58% | 56% | ||
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Buyer and Seller Trends |
Q4 2025 | Q3 2025 | ||
| Percent of sellers moving somewhere else in current city/county | 41% | 50% | ||
| Percent of sellers moving somewhere else in Tennessee | 28% | 10% | ||
| Percent of sellers moving to a different state/outside of Tennessee | 31% | 40% | ||
| Percent of buyers moving due to relocation (such as for business or a job change) | 16% | 11% | ||
| Percent of buyers who were previously renting | 27% | 31% | ||
| Percent of buyers who are repeat homebuyers | 57% | 56% | ||
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Other Market Indicators |
Q4 2025 | Q3 2025 | ||
| Percent of buyers who waived at least one contingency | 59% | 61% | ||
| Percent of buyers who waived inspection contingency | 12% | 6% | ||
| Percent of buyers who waived appraisal contingency | 15% | 16% | ||
| Percent of contracts where appraised value met or exceeded the contract price | 100% | 98% | ||
| Percent of contracts in the past 3 months that were terminated | 4% | 8% | ||
| Percent of contracts in the past 3 months that had delayed settlement | 14% | 15% | ||
| Percent of contracts in the past 3 months that closed/settled on time | 79% | 78% | ||
| Percent of respondents who have worked with an investor buyer in the past three months | 34% | 36% | ||
| Percent of first-time buyers | 24% | 18% | ||
| Percent of respondents currently working with 3+ clients actively/seriously looking to purchase | 20% | 28% | ||
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Anecdotal responses (Edited for clarity) "Buyers are being very selective. Sellers are starting to realize this and offer more concessions." "List prices are a challenge. Sellers want to list at the highest possible price, even when the comps don't support it." "We are seeing more price reductions than usual." "Most of my business this year has been cash transactions, different than prior years." "Homes are taking longer to sell, but many cash buyers are just waiting on the right listing." |
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Source: East Tennessee REALTORS® |
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| Note: Estimates based on East Tennessee REALTORS® quarterly Market Pulse Survey and MLS data. | ||||
| For questions about the survey or its contents, please contact Maria McHale at maria@etnrealtors.com. | ||||
About the Survey
- The Market Pulse Survey gathers on-the-ground information about local market conditions from members of East Tennessee REALTORS® based on their client interactions and real estate transactions in the previous three months.
- The Market Pulse Survey is provided by East Tennessee REALTORS® solely for use as a reference. Reproduction, reprinting or retransmission in any form is prohibited without written permission.
- Media inquiries about the survey should be directed to communications@etnrealtors.com.
Data Attribution: You are welcome to use or reproduce this survey data for your own purposes, but we ask that you attribute any full or partial use of the data to East Tennessee REALTORS® and include the time period when the survey was conducted.
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