Home Sales Up To 8.4 Percent In March

Monday, April 22, 2013

Home sales were up in March, according to officials with the Greater Chattanooga Association of Realtors.

Officials said, "First, tightened inventory levels combined with strong demand are fueling price gains in many areas. Second, consumer demand is shifting from distressed properties to conventional homes. Third, record-low mortgage rates and rising rents are supporting housing recovery." 

Closed Sales marched forward to the tune of 8.4% ending with 593 Residential Units sold. New Listings in the Chattanooga region were up 5.2% to 1,083. Inventory shrank 9.0% to 4,707 units. 

Prices were stable, as the Median Sales Price remained flat at $130,000. Days on Market decreased 4.5% to 128 days, the 11th consecutive month of year-over-year declines. Months Supply of Inventory was down 19.2% to 8.4 months, indicating that demand increased relative to supply. 

GCAR President Mark Blazek said, “On the economic front, things inched forward. We saw a minor but important upward revision to Q4-2012 GDP growth that put us back in positive territory. In the political arena, key debates over the deficit, marriage, gun law, and immigration reform and tax policy rage onward. The squeaky wheel gets the grease, and with this emerging housing recovery, there are no imminent housing-related bills. Perhaps that's a good thing.”


20 Women To Participate In Habitat's National Women Build Week Saturday

Twenty women comprising of Habitat for Humanity of Greater Chattanooga Area volunteers and Lowe’s Heroes employee volunteers will devote the day before Mother’s Day to help a mother build an affordable place she can call home on Saturday. This project is part of Habitat for Humanity’s National Women Build Week, which takes place April 30-May 8. The project also supports “Home ... (click for more)

Developer Asks To Use Freight Containers As Buffer, Storage Units At St. Elmo Development

A developer is asking to be allowed to use freight storage units as a buffer and for storage at a St. Elmo development. The townhouse project is at the north end of St. Elmo Avenue behind Southern Saddlery. Collier Construction made the request, which must receive City Council approval. The buffer would be from a nearby railroad. The freight storage units would go along ... (click for more)

Kevin Muhammad Says City Programs Failing; More Attention And Funding Needed For Impoverished Inner City Youths

Nation of Islam leader Kevin Muhammad told a packed house at City Council on Tuesday night that a large segment of Chattanooga is impoverished, while parts of the city are enjoying a Renaissance. Given 20 meetings for a "State of the People" address, he said many city programs are failing, including the Violence Reduction Initiative and a Youth and Family Services reading program. ... (click for more)

County Commission Told To Fully Fund County Schools Improvement Request Would Take 28 1/2-Cent Property Tax Increase; 78 School Personnel Would Be Added

County Mayor Jim Coppinger told members of the County Commission at a budget workshop on Tuesday that it would take a 28 1/2-cent property tax increase to fully fund the county school budget request. The county schools are asking for $24,218,919 in new money for a focus on workforce readiness, literacy and low-performing schools. County Mayor Coppinger did not say whether ... (click for more)

Marvelous News From Central High School

To Roy Exum:     With all the recent news of major dysfunctions within our educational system, I thought I might alert you to something better. About a year ago you ventured up Highway 58 to Central High School to represent your late grandfather, Roy McDonald, as he was honored as a Distinguished Alumnus during the annual Senior Day festivities. I sort of expected ... (click for more)

Roy Exum: Yes, A Social Experiment

JoeySalads, his screen name, is widely known for his funny pranks except for the fact he calls them “social experiments.” So while we are still on the transgender-restroom issue, our boy JoeySalads got a transgender friend to approve his attire before he tried his luck at entering women’s restrooms. I don’t think you’ll be real surprised at what really happened in this video. Click ... (click for more)