- Seasonally adjusted, July Tri-Cities sales rose 5.9% and prices rose 1.05% year-over-year — reframe "sales fell" for buyers reading headlines (Fenley/CoreData, Aug 13).
- 30-year fixed sits at 6.75%, 15-year at 6.32% as of Aug 27 — still below the 54-year average (Mortgage News Daily).
- THDA's first-time-buyer rule is waived for Veterans everywhere and in THDA "targeted" counties — worth checking before ruling a repeat buyer out (THDA eligibility rules).
- Freddie Mac shortened the large-deposit lookback to 60 days before application — tell buyers to keep paperwork tidy early (Freddie Mac Bulletin 2026-9).
Tri-Cities Market Pulse
July's headline numbers looked soft: sales flat, prices down from June's peak. But raw month-to-month numbers always dip in July because the market itself slows down every summer — it's the same pattern every year. Strip that seasonal noise out, and Fenley/CoreData's own adjusted figures show sales up 5.9% and prices up 1.05% compared to a year ago (Fenley/CoreData, Aug 13). The affordable segment ($160,000-$299,999) led the gain, up 11.9% year-over-year, which tracks with July's average rate of 6.49% sitting below last July's 6.72% — lower rates matter most to buyers at that end of the market. Move-up sales ($300,000-$999,999) grew a steadier 7.1%, and luxury held flat at 10 sales both years. On today's rates: the 30-year fixed sits at 6.75% and the 15-year at 6.32%, per Mortgage News Daily as of August 27.
Source: Fenley/CoreData (donfenley.com), August 13, 2026; Mortgage News Daily rate index, August 27, 2026. Analysis by Sam Timlick, mortgage loan officer in Johnson City, TN.
Mortgage Strategy: The Repeat Buyer Who Thinks They're Locked Out of THDA
THDA's Great Choice Plus down payment assistance generally requires first-time buyer status — no ownership of a primary residence in the past three years — so agents often assume a repeat buyer is automatically out of the running. Two real exceptions are worth knowing before you rule anyone out: the requirement is waived entirely for Veterans and active-duty military through THDA's Homeownership for Heroes program, and it's also waived for any buyer purchasing in a THDA-designated "targeted" county or census tract, regardless of ownership history. If a repeat buyer client is stretching for a down payment, it's worth a quick call to check whether either exception applies to their situation before assuming the assistance is off the table.
And for any buyer weighing whether to wait for a lower rate: home prices historically don't wait for rates to fall — they tend to keep climbing. If rates do drop meaningfully, expect a wave of buyers to come off the sidelines at once, the way we saw during the COVID years, which can push prices up fast and create real competition. A buyer could end up with a lower rate but a higher price and a similar (or bigger) monthly payment, plus a tougher negotiating environment. Buying now, at today's price and rate, and refinancing later if rates drop is often the stronger position.
Quick FAQ
National Agent Mastermind: Stay Tuned
August's National Agent Mastermind session — Carl White & Jim Reed on How to Generate an Extra Closing Every Month — wrapped up on August 18. The next session hasn't been confirmed yet; I'll share the date, topic, and speaker as soon as they're set. In the meantime, registration for future sessions always runs through agentanimals.com/samtimlick — free for any agent who wants in.
Got Buyers Who Need Financing?
If you've got buyers who need financing — first-time, repeat, or anywhere in between — 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.