Knoxville, TN (PRWEB) January 31, 2013

The Holloway Group, the leading Knoxville real estate team at Gables & Gates, REALTORS has posted a new article to their website titled, “Where Are All The Houses? The Reasons Behind Shrinking Inventory”.

Troy Stavros, Broker and Partner with the Holloway Group states, “The old adage of supply and demand is at it again. Home prices are on the rise because the number of Knoxville homes for sale continues to dwindle.” According to the latest research numbers from the National Association of Realtors, the inventory of homes for sale dropped 8.5% from November, 21.6% from one year earlier, and is at the lowest level since January of 2001.

So why are we seeing inventory of Knoxville homes for sale drop? Here are the reasons: