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.”


Thrive 2055 Named Finalist For National Award

Thrive 2055, a collaborative regional initiative hosted by the Chattanooga Area Chamber of Commerce, has been named a finalist for a national award presented by the Association of Chamber of Commerce Executives (ACCE). Thrive 2055 focuses on proactive engagement of the tristate, 16-county region around Chattanooga to make the most of economic opportunities while preserving ... (click for more)

Home Sales And Prices Increase, While Number Of Homes For Sale Has Decreased

Home sales and prices have increased, while the number of homes for sale have decreased. Officials from the Greater Chattanooga Association of Realtors said, "Halfway through 2016, residential real estate markets are performing as predicted at the beginning of the year. Sales and prices have been going up in most areas, while the number of homes for sale and total months' supply ... (click for more)

Beck Upset By Criticism Of Late WWTA Director Cleveland Grimes In WWTA Analysis; Boyd Won't Rewrite 57-Page Report

County Commissioner Greg Beck said it was inappropriate for fellow Commissioner Tim Boyd to include articles critical of the late Cleveland Grimes in a 57-page report on the Hamilton County Water and Wastewater Treatment Authority. He said, "Criticizing a dead man - I don't know if that's appropriate. If that's Christianity, let me off the wagon." Saying the report should ... (click for more)

Investor In Scheme Says Dyer Made Contacts At Quarterback Club

One of the investors who was a loser in an investment scheme recently halted by the Securities and Exchange Commission said one of the Chattanooga brokers involved made many of his contacts through the Chattanooga Quarterback Club. Paul Smith, former Hamilton County Democratic Party chairman, said Doug Dyer has been the president for many years of the club that promotes UTC and ... (click for more)

Expand Broadband Internet, Not The Size Of Government

I’d like to respond to two letters in your July 13 edition that praised Rep. Mike Carter’s efforts to expand statewide broadband access. Rep. Carter wants more government involvement in the broadband sector, including an expansion of taxpayer-funded, municipal broadband networks.  Rep. Carter’s supporters argued he’s standing up for consumers against huge telecommunications ... (click for more)

Roy Exum: Our Horses Vs. DesJarlais

It is well-known that shortly after the despicable “Big Lick” faction of the Tennessee Walking Horse industry put on a very-pointed fundraiser for the equally repugnant Congressman Scott DesJarlais (R-Jasper) two years ago, the misguided doctor has repeatedly tried to bully and strong-arm the U.S. Department of Agriculture on the behalf of the vermin who sadistically torture the ... (click for more)