The answer to the question above is that we really don’t know yet. Brokers in our Great Smoky Mountain Association of Realtors MLS aren’t required to submit their closed files by a specific date and this means that the data isn’t truly reliable until around the middle of the following month. Still, at this early date I can say that February’s (hopefully icy weather impacted) sales totals were absolutely abysmal. For a long term view, please take a look at the same data that I regularly display but in a different format:
Although the graph as shown on this page is rather small, that very last bar on the right represents February’s Smoky Mountain residential sales totals and it is very weak indeed. One has to go all the way back to February 2011 to find a lower monthly total number of closings. Will more sales be reported – Almost certainly so! Will there be enough additional sales tallied to make February’s performance less disturbing – Probably not…