Positive Signs For November Home Sales

Thursday, December 19, 2013 - by J. Brian Miles

November was largely another encouraging month for residential real estate. Our attention has shifted from multiyear high prices and sales volumes to seller activity, inventory levels and building permits. And let's not forget the calendar effect. As families gather together, fewer house hunters are scheduling showings and writing offers. Watch for month-to-month activity to moderate while year-over-year comparisons remain strong.

Closed Sales were down slightly by 3.6 percent from last November’s number, closing at 537 Residential Units sold. However, year to date, Home Sales have risen 8.1 percent to 6,675 homes sold for 2013. New Listings in the Chattanooga region decreased 14.9 percent to 697.


Inventory levels shrank 3.1 percent to 4,909 units. Prices were a tad soft. The Median Sales Price decreased 6.4 percent to $134,750. Days on Market were down 1.5 percent to 128 days. Absorption rates improved as Months Supply of Inventory was down 5.6 percent to 8.5 months.

GCAR President Mark Blazek said, “Recent economic and jobs data have surprised to the upside by exceeding expectations. This likely keeps the new Federal Reserve leadership on track for March 2014 tapering. Non-farm payrolls grew by 204,000 jobs in October, outperforming Wall Street expectations.” Mr. Blazek concluded, “In another bullish sign, August payrolls were revised upward to a 238,000-job gain – positive momentum that should support housing recovery. Just in time for the holidays.”


Source: 10k Research and Marketing


Crye-Leike's Chris Holmes Promoted To Managing Broker

Chris Holmes of Sweetwater, Tn. was promoted to managing broker of Crye-Leike Realtors’ Athens branch office, located at 580 S. Congress Parkway in Athens, Tn.  He is responsible for managing and recruiting a sales force of Crye-Leike sales associates who list and sell residential and commercial real estate in Bradley, Knox, Loudon, McMinn, Meigs, Monroe, Polk, Rhea and ... (click for more)

Real Estate Transfers For June 16-21

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding this report, please call Chattanoogan.com at 423 266-2325. GI numbers, listed when street addresses are not available, refer to the location of transactions (book number and page number) ... (click for more)

Customer At East Ridge Gas Station Shoots And Kills Robber; He Had Been Trying To Take Female Clerk With Him

East Ridge Police said a customer at an East Ridge gas station early Thursday morning shot a robber, who was then found by police lying outside the station and was arrested.  The robber has died.  His name is being withheld pending the notification of next of kin. At 1:47 a.m., East Ridge Police responded to 4011 Ringgold Road, the Marathon Service Station, on ... (click for more)

Bridge Repair Over 12th Street To Cause Temporary Lane Closure On US 27

While investigating a pothole in the bridge on U.S. 27 North over 12 th Street in the construction zone, crews discovered a potential weak spot in the bridge deck that could over time result in more damage to the bridge deck.  For the safety of the traveling public, the outside lane in this area will be closed until the contractor makes necessary repairs, TDOT officials ... (click for more)

A Disturbing Trend At Exit 11 - And Response (4)

So, am I the first to notice a trend?   How many wrecks does exit 11 need before anyone asks "whats up with that?"  I have lost count of the wrecks that continue to happen, even after last year's awful loss of life (which I believe 51 percent of the blame should fall on the THP officer on duty).  The problem with this section of interstate are sight lines ... (click for more)

Roy Exum: A Story You Won’t See

In a puzzling time when the big daily newspapers have veered strongly away from “all the news that is fit to print,” allow me to share a story that you very likely will not see on CNN, ABC News, or in the big media conglomerates that influence the way you think, the way you react and – as a result – easily warp our common senses. This story is very true. Late last Sunday afternoon, ... (click for more)