Another dismal report on the housing market is adding to worries about the economy.

We talked to local real estate agents to see how those numbers reflect our east Tennessee housing market.
Here’s what they had to say.

Sales of previously owned homes fell 27 percent last month to the lowest level in 15 years.
Treasury Secretary Timothy Geithner says, “Fixing this system is one of the most consequential and complicated economic policy problems we face as a country.”

The 27 percent drop is despite the lowest mortgage rates in decades and bargain home prices in many areas.

Like in Knox County, Realtor Don Canter says buy if you have a secure job because interest rates are so low.
If you’re buying he recommends to think foreclosures first.

In Blount County, Dwight Price, broker of Price and Associates, says do not sell because already the market is inventory heavy.
You won’t get a good price.
If you plan on selling your home, it needs to be necessary.
He says if you’re going to buy, you need to have a high credit score.

Full story is available on volunteertv.com