Home Sales Up 2.1 Percent In December

Tuesday, January 22, 2013

Home sales in Chattanooga rose in December, according to a report from the Greater Chattanooga Association of Realtors.

New listings in the Chattanooga region were up 10.2 percent to 581. Closed sales rose 2.1% finishing the month with 496 residential units sold. Inventory shrank 8.0 percent to 4,534 units.

Prices turned higher as the median sales price was up 9.6 percent to $142,500. Days on market decreased 2.9 percent to 132 days. Months supply of inventory was down 21.4 percent to 8.1 months, indicating that demand increased relative to supply.

Meanwhile, third quarter GDP was upwardly revised to 3.1 percent and several prominent housing indices continue to showcase market turnaround. 

GCAR President Mark Blazek said, “Momentum is on our side. Remember, it won't necessarily be fast, consistent nor universal, but recovery appears to be here to stay. After five or six challenging years, it's a welcomed change of pace.”


Russ Elliott Joins Pointe Property Group To Form New Brokerage Firm

Russ Elliott, a respected commercial real estate broker with 30 years of experience, has joined the principals of Pointe Property Group to form Pointe Commercial Real Estate, LLC and become its managing broker. Pointe Property Group has several prominent commercial developments in the Chattanooga market, including The Pointe Centre and Lee Pointe. Mr. Elliott will be responsible ... (click for more)

GCAR Has After Hours Networking Event

The Greater Chattanooga Association of Realtors (GCAR) met at Clyde's on Main Street Thursday  night  for an afterhours networking event sponsored by the organization's affiliate members.  On hand were realtors, escrow agents, home warranty representatives, mortgage lenders and pest control reps and other service providers from the area's housing industry.   ... (click for more)

Corker Urges Administration To Take Time, Not Rush Into Bad Deal With Iran

As the P5+1 nations and Iran attempt to meet a new Tuesday deadline for a nuclear agreement, U.S. Senator Bob Corker, appeared on CBS News’ Face the Nation today and urged the Obama administration to take the time needed and to not rush into a bad deal with Iran. Senator Corker said, “Obviously, [the administration is] very anxious. I think they look at this as a legacy ... (click for more)

Muslim Advocacy Group Questions House Arrest For Signal Mountain Man Charged In Threats Against Muslim Village In New York

The Council on American-Islamic Relations (CAIR), the nation's largest Muslim civil rights and advocacy organization, on Saturday questioned the release of a Signal Mountain man who admitted to planning what it called "a Charleston-style terror attack" on a Muslim community in New York. CAIR also called for stepped up protection for the community targeted in the plot. Judge ... (click for more)

Could The Marriage Decision Spark A New Independence Day?

I confess that this year I am having a hard time with the idea of celebrating the 4th of July Independence Day. It is not because I am not thankful to God for what was done on that day, what it represents, and the blessings I’ve experienced that flow from it. On the other hand, I want to think that maybe this year’s celebration will mark a period in our history in which a new movement ... (click for more)

Roy Exum: The Hay Fields Of July

Oh my goodness, July has just arrived and during my formative years, it was the most hated month of the year. When I was 12 years old, my wonderful grandfather decreed the days of begging for money to go to the picture show and burgers at the Krystal were over, that I was on the payroll for a dollar an hour and, in our family, folks worked for what they spent. Now my grandfather, ... (click for more)