GRAY — Home prices continued double-digit growth in April as inventory dropped to an all-time low.
At month’s end, the region monitored by the Northeast Tennessee Association of Realtors Home Sales Report had a 1.3-month supply of homes for sale.
“It was a given that the sales growth rate for April would be artificially high since it’s a comparison of this year’s strong growth to the first full-month reaction to the pandemic in April 2020,” NETAR President Kristi Bailey said. “With that said, last month was another chapter in the region’s six-year strong housing market history.”
The average sale last month was $42,441 more than last year. Homes also continued selling more quickly. The median time on the market was 49 days, down from 65…