East Tennessee February real estate sales showed the most robust consumer interest since 2022, with double-digit growth over last year. Consumers responded favorably to interest rates, warmer weather and improved affordability.

Buyers' reactions are slightly delayed from real-time market movement: When mortgage rate drops and media headlines celebrate good news, buyers follow within a few weeks and sustain that optimism.

The same can apply for negative impacts to the market, and we are only just seeing the mortgage rate waver based on the temporary effect of rising energy prices.

ETNR members are hopeful for a productive spring. We're watching to see whether inflationary price shocks and foreign policy will have an effect on rates, and if so how a prolonged impact might change the outlook for the year.