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


Home Builders Association Of Greater Chattanooga Awards Record Number Of Scholarships

The Home Builders Association of Greater Chattanooga announced the recipients of its fall 2015 scholarship awards. Seven outstanding students were selected to receive the scholarships. Cynthia Blackwell, interim executive officer said, “We applaud these students for their decision to enter the construction industry, and we are excited about our future workforce. These ... (click for more)

Ribbon Cutting For Green's Eco Build And Design Is Thursday

Green’s Eco Build and Design will celebrate its opening with a ribbon cutting ceremony on  Thursday, at 2 p.m.  at 1510 Riverside Drive. It will be  followed by an open house from 4-7  p.m. This ribbon cutting will formally announce the opening of Green’s Eco Build and Design, the area’s first construction supply store offering regionally-sourced, environmentally-friendly ... (click for more)

President Of Realtor Association And Family Were Starting On Vacation When They Were Caught In Deadly Wreck

The president of the Greater Chattanooga Association of Realtors was starting out on vacation with his wife, Tina, and their two children when they got caught up in last Thursday’s deadly crash along I-75.   Six people were killed and six others injured.   The Close family, including children ages six and 12, was able to escape injury.   They ... (click for more)

Athens, Tn., Doctor, Wife, Daughter Die In Crash Of Small Plane That Hit House Near Boston

An Athens,Tn., physician, his wife and college-age daughter died Sunday evening in the crash of a small plane that struck a house 30 miles southwest of Boston on Sunday evening. The victims were Dr. Joseph Rick Kalister, the emergency room director at Starr Regional Medical Center's Athens campus, wife, Betty, and their daughter. The doctor and his wife were en route for a ... (click for more)

Six Commissioners Owe Us An Explanation - And Response (2)

Two-thirds of the Hamilton County Commission owe us an explanation as to why they feel it appropriate to take $900,000 of our money out of savings to spend on whatever suits their fancy, oversight be darned.  Those six commissioners are: Randy Fairbanks (D-1), Jim Fields (D-2), Warren Mackey (D-4), Sabrena Turner-Smedley (D-7), Tim Boyd (D-8), and Chester Bankston (D-9).  ... (click for more)

Roy Exum: Tonight, Take A Second

Peter Whibberley, known globally as “The Time Lord,” will freely tell anyone, “There are consequences of tinkering with time,” but tinker we must because the world – planet Earth -- is spinning slower. So tonight at 7:59:60 p.m. EDT, the Senior Research Scientist at Britain’s National Physical Laboratory will add an extra second to the hour – and our day -- before it becomes 8:00 ... (click for more)