Fewer new homes sold in the Tri-Cities last month. The ones that did cost more.

From the Field: Kingsport Keeps Building on the Domtar Site

Kingsport's Economic Development Board reviewed progress in early August on two projects worth tracking: the new IMAX theater downtown (opened mid-July) and the Domtar mill site redevelopment, including an anaerobic digester project (WJHL). Neither is brand new this week, but both are still moving and worth keeping on your radar if you have clients tracking Kingsport's downtown investment.

Tri-Cities Market Pulse

The new-home market sent a mixed signal in July. Buyers closed on just 56 new homes, down 17.6% from 68 a year earlier — but the median price rose 3.8% to $365,588 and the average climbed to $403,651 (Fenley/NETAR, Aug 14). Fewer sales, higher prices: builders brought fewer but pricier homes to market, and buyers who showed up paid for size — the average new home grew to 1,989 sq ft, up from 1,930 a year ago. Geography shifted too. Blountville led the region with 13 new-home sales; Johnson City, last year's leader with 22, fell to 11. Sellers cut prices more often this year (24 of 56 homes), but buyers negotiated smaller discounts at the table ($5,520 average, down from $7,717) — a sign builders are pricing closer to what the market will actually pay.

The resale market told a calmer story: buyers still negotiated a lower final price in 64.5% of July sales even as upfront price cuts eased to 37.4% (Fenley/CoreData, Aug 9). On rates: the 30-year fixed sits at 6.71% and the 15-year at 6.29%, per Mortgage News Daily as of August 14.

Source: Fenley/CoreData & NETAR (donfenley.com), August 9 & 14, 2026; Mortgage News Daily rate index. Analysis by Sam Timlick, mortgage loan officer in Johnson City, TN.

Mortgage Strategy: Priced Out of New Construction? Point Buyers Back to Resale

With new-home median prices up nearly 4% and fewer homes to choose from, a buyer set on new construction may be pricing themselves out without realizing there's an alternative. The resale market is still giving buyers real room to negotiate — nearly two in three July resales closed below the original asking price. If a client is fixated on "new," it's worth walking them through a comparable resale where they can capture that same negotiating leverage instead of paying a premium for square footage. And if a buyer's holding out for a lower rate before making any move: home prices historically don't wait for rates to fall. If rates do drop meaningfully, expect a wave of buyers to come off the sidelines at once, pushing prices up and creating tougher competition — often erasing whatever the lower rate would have saved. Buying now and refinancing later if rates improve is often the stronger position.

Quick FAQ

Tri-Cities Weekend Events

The Appalachian Fair runs Wednesday, Aug 19 through Monday, Aug 24 at the Appalachian Fairgrounds in Gray, TN — exhibits, rides, food trucks, vendors, and live music, plus a companion car show Friday and Saturday with 100+ plaques awarded (WJHL). A good one to mention to clients settling into a new home nearby.

National Agent Mastermind: Tomorrow

This month's National Agent Mastermind — the free monthly training I sponsor for agents — is tomorrow, Tuesday, August 18 at 3:00 PM Eastern (12:00 PM Pacific). Carl White & Jim Reed are presenting How to Generate an Extra Closing Every Month, covering hidden opportunities already sitting in your database, turning every closing into more referrals, and a follow-up system that keeps leads engaged. It's free — register at agentanimals.com/samtimlick before it fills up.

Got Buyers Who Need Financing?

If you've got buyers who need financing — whether they're set on new construction or you're steering them toward resale — I'd love to work with them. I'll treat them like family, and I'll keep you in the loop the whole way. More on how I work with agents at samtimlick.com/for-agents.