Chattanooga Home Sales Increase By 15.4 Percent In April

Wednesday, May 22, 2013

The S&P/Case-Shiller Home Price Index showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. Major national indices are telling the story that local MLS data users have known for months or even years. The housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up.

Closed Sales in Chattanooga rose an astounding 15.4%, closing with 645 residential units. New Listings in the Chattanooga region were up 9.8 percent to 1,180. Inventory shrank 8.2 percent to 4,826 units. Prices moved higher as the Median Sales Price was up 3.8 percent to $135,000.

Days on Market decreased 8.0 percent to 126 days, the twelfth consecutive month of year-over-year declines. Months Supply of Inventory was down 18.3 percent to 8.5 months, indicating that demand increased relative to supply.

GCAR President Mark Blazek said, “The prickliest thorns in our collective side are still lack of inventory and subdued listing activity. In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That's causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery.”


Real Estate Transfers For Aug. 27-Sept. 2

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)

THDA Touts Greener Rules For Construction Tax Credits

The  Tennessee Housing Development Agency plans to enact stronger "green" energy requirements for new multifamily rental properties that hope to qualify for federal tax credits.   Under the proposed new rules, developers can earn points on their Low Income Housing Tax Credit (LIHTC) application if the property qualifies for full Enterprise Green Communities certification. ... (click for more)

Trustee To Be Appointed To Oversee Hutcheson Medical Center Bankruptcy With Focus On Sale Of Fort Oglethorpe Hospital

A trustee will be appointed to oversee the bankruptcy case of Hutcheson Medical Center with a focus on getting the financially-strapped Fort Oglethorpe hospital sold. The U.S. Trustee's Office had filed a motion asking that the bankruptcy be dissolved due to the debt rising to $6.3 million since the bankruptcy was filed last November. However, all parties finally agreed it was ... (click for more)

Civic, Political Leader Mai Bell Hurley Dies At 87

Civic and political leader Mai Bell Hurley has died at age 87. She was the first woman to serve on the Chattanooga City Council. Ms. Hurley was also a longtime advocate for the arts and a leader in United Way. She was a leader in Chattanooga Venture that led to the redevelopment of downtown and the riverfront.  She most recently served on the Library Board. ... (click for more)

Does The Signal Mountain Town Council Take Its Constituents As Fools?

You've got to hand it to the Signal Mountain Town Council. In their scheme to change the zoning on Signal Mountain from 1/2 an acre to 1/4 an acre they get more creative by the day in coming up with justifications for doing something a majority of their constituents are squarely against.   They started off by hiding behind a poor widow who had fallen on hard times. She had ... (click for more)

Roy Exum: Every Child Must Watch This

In the course of my day, I read different websites, am sent all kinds of neat videos and I love the jokes I get. But when I logged onto my ever-bulging email account Thursday morning, I happened across the scariest, most terrifying video I have ever watched. There is a website I check called “Atchuup” that boasts “cool stories daily.” Some are pretty good but this one nearly knocked ... (click for more)