March home sales were lukewarm for East Tennessee after rapid growth in December, January and February. Looking ahead, pending sales for April are more promising, up 10% over last year.

Even a well-versed reader could be forgiven for confusion over the mixed signals and headlines in recent months - sales up, inventory sluggish, prices flat, population continuing to grow. The market is rounding the finish of a multi-year reset, and we're encouraging members and customers alike to stay steady.

The market is beginning to perform more predictably according to historic norms. East Tennessee hasn't seen those patterns in so long that it feels slow, but digging into the data reveals healthier trends emerging.

Pricing strategy will be increasingly important over the spring. It still isn't a "buyer's market," with inventory tight especially for the smallest and most affordable listings.

Flattening price growth and a lower sale-to-list ratio for three months in a row are sending a clear signal, especially for existing-home sales: Homebuyers are looking for value and affordability in comparison to new construction, and sellers are beginning to offer more concessions and incentives.