Home Sales In Chattanooga Rise 8.9% In May

Thursday, June 20, 2013

Home sales in May again increased, during the month of May. Once again, Closed Sales rose 8.9% topping out at 683 residential homes sold. New Listings in the Chattanooga region were up 5.6 percent to 1,146. Inventory shrank 8.1 percent to 4,876 units.  

Prices moved higher as the Median Sales Price was up 5.2 percent to $144,000. Days on Market decreased 2.4 percent to 122 days. Months Supply of Inventory was down 15.7 percent to 8.6 months, indicating that as always, demand increased relative to supply. 

Officials said, "We're halfway through the year and it seems our collective attention has shifted from monitoring price and sales gains to eagerly anticipating more new listing activity on the part of sellers. This shift is the result of an imbalance between strong demand for homes and constrained supply. In some markets, purchase agreements are being written up directly after a showing. Your experience and local market conditions may differ, but the market as a whole has summertime heat."

GCAR President Mark Blazek added, “Interest rate risk is back in the headlines after Fed chief Ben Bernanke's latest testimony on Capitol Hill. The Federal Reserve Bank is considering decreasing its $85 billion a month bond asset purchases, which have been holding interest rates at or near historic lows. This is mostly the result of an improving jobs market, which is a good thing for real estate.”

Source: 10k Research and Marketing


Real Estate Transfers For Aug. 13-19

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)

Homeownership Is At 63.4 Percent In 2nd Quarter Of 2015

According to the U.S. Census, homeownership is at 63.4 percent for the second  quarter of 2015, down 1.3 percent from the second quarter of 2014. This is the  lowest rate of homeownership since 1967. To put that in greater context,  homeownership peaked at 69.2 percent in 2004, and the 50-year average is  65.3 percent. Although the data may be indicating otherwise ... (click for more)

DA Pinkston Asks City Police To Investigate Fatal Shooting By County Deputies Of Man They Chased Into The City Limits

District Attorney General Neal Pinkston has asked Chattanooga Police to investigate a fatal shooting involving Hamilton County deputies who chased a suspect from Old Lee Highway to Pine Marr Drive inside the city limits. At Pine Mar, the suspect crashed and shots were fired resulting in the suspect’s death.  DA Pinkston said he would have no further comment. Pine ... (click for more)

DISH And Sinclair Broadcast Group, Inc. Finalizing Long-Term Deal; Stations To Be Restored

DISH Network L.L.C. and Sinclair Broadcast Group, Inc. have reached an agreement in principle that will form the basis of a long-term retransmission consent agreement for carriage of Sinclair’s local channels in 79 markets nationwide. Restoration of Sinclair signals to DISH’s system is underway. “We are grateful for the FCC’s work on behalf of consumers to actively broker ... (click for more)

The Obvious In School Test Scores - And Response (3)

I have been watching what has become an annual event in Chattanooga, which is the hand wringing and blame game associated with low test scores in our schools.  I keep waiting for someone to bring up what should be obvious unless they either don't want to talk about it or think they shouldn't because it might not be politically correct.   1) The highest school test scores ... (click for more)

Roy Exum: Her Heart Will Go On

Tonight’s a big night in Las Vegas, one of the biggest in quite a while. Celine Dion, truly one of the most magnificent singers of our time, will return to the stage of the Colosseum at Caesar’s Palace after a year’s absence and, if you dare think you can get a seat, it has been sold out for months. Of course, they say in Vegas you can buy anything, but tonight is one of the toughest ... (click for more)