News Roundup: Dogwood Arts, housing, and a sad goodbye
The Weekend News Roundup features stories related to local business, technology, entrepreneurship, economy, events, and innovation.
Dogwood Arts Fetsival
Established in 1961, the Dogwood Arts Festival is one of Knoxville’s most celebrated cultural events! The festival is held on the beautifully redesigned Performance Lawn at World’s Fair Park and features over 100 fine art vendors, live music, entertainment, children’s activities, food & beverage vendors, and more.
This year, there will also be maker workshops, which help connect the community directly with the artists in the local area.
To read a full list of activities, sites, and workshops at the Dogwood Arts Festival, click here.
Housing forecast
Apartment rents in Knoxville saw modest growth, rising by just 1.3 percent from the previous year in March. However, the housing market experienced a significant surge in home prices, with a remarkable 11.7 percent increase in the fourth quarter of 2023, propelling Knoxville to the number eight spot in the U.S. for price growth, according to the FHFA House Price Index.
Despite the soaring home prices, rentals constitute only 15 percent of Knoxville’s single-family housing stock, below the national average, suggesting a potentially tighter rental market.
According to data from East Tennessee REALTORS (ETNR), 69 percent of realtors anticipate further home price growth over the next year, 15 percent expect no change, and 16 percent foresee a decline.
Thank you, Hancen Sale
According to ETNR, Hancen Sale, the Government Affairs and Policy Director, and Editor of the Market Pulse newsletter is leaving the organization. He has been there for nearly four years and has certainly built a strong relationship between ETNR and the community.
Sale shared the news on LinkedIn, and again in the Friday edition of the Market Pulse newsletter.
We wish him the best of luck on his new role (which has yet to be announced).
