Home Sales Rise In July

Wednesday, August 21, 2013

It won't be long before the housing recovery is simply referred to as housing. Institutional and cash buyers have effectively priced themselves out of the market. During the downturn, these groups purchased much inventory. Now that prices are rising, there's less incentive for these kinds of buyers, yet affordability for consumers remains attractive.

Closed sales rose 1.3 percent from last year’s number, topping out at 645 residential units sold. New listings in the Chattanooga region were up 20.4 percent to 1,223. Inventory shrank 1.3 percent to 5,243 units.

Prices moved higher as the median sales price was up 8.5 percent to $153,500. Days on market decreased 7.9 percent to 117 days. Months supply of inventory was down 8.0 percent to 9.2 months, indicating that demand increased relative to supply.

GCAR President Mark Blazek added, “With mortgage rates slightly up but relatively low by historic standards, the Fed has indicated no change in monetary policy based on a moderately paced economic expansion.  Although the unemployment rate remains a factor to watch, the housing recovery continues to plug along, helping the greater economy with flourishing activity in sales and prices.  Housing has made a positive contribution to real GDP growth for 11 consecutive quarters.”


Historic Graysville, Ga., Mill House With 24 Acres For Sale

The historic Graysville, Ga., mill house, with 24 acres, is for sale. Asking price is $898,000. The property along South Chickamauga Creek is part of the village set up by the Gray family near where the Western and Atlantic Railroad passed. A home was later built on the base of the old mill. The location is still a popular swimming hole, and the old highway bridge is nearby. (click for more)

Home Prices Rise In September

In 12 month’s time, local real estate prices have climbed higher, showing signs that that nation’s recovery is holding steady, for the time being. First time homebuyers are in the driver’s seat as a consistent inventory of homes for sale and reasonable interest rates for borrowers continue to encourage new purchases, according to the  Greater Chattanooga Association of Realtors. ... (click for more)

Mayor Berke, Chattanooga Police Department, And Community Members Reach Out To Group Members To End Violence

The city of Chattanooga held a call-in on Thursday night, as part of the Violence Reduction Initiative. Dozens of law enforcement officials, community members, social service providers and clergy gathered to deliver a message to over 20 members of violent groups in Chattanooga. Family members of the probationers watched the call-in from another building. Although the call-in was ... (click for more)

Tribute Service For Luther Masingill Held At Historic Engel Stadium

It took a place as big as historic Engel Stadium for Chattanooga to say goodbye to their beloved Luther. Hundreds came Thursday afternoon to pay tribute to Luther Masingill who died early Monday morning after a radio career that spanned an amazing 74 years. It was clear from all who spoke that he was considered not only a radio personality, but also a role model. One after ... (click for more)

Chairs Cost How Much?

Many times while growing up, I would go to the store with my parents. More often than not, I would see something I wanted, and ask my parents to buy it for me. More often than not, they said no. “Why?” I asked. “Son, money doesn’t grow on trees.” That’s a phrase I’m sure many of us have heard more than once over the course of our lives. However, I have since learned that they were ... (click for more)

Roy Exum: Pete Carroll’s Philosophy

Pete Carroll, the head football coach of the Seattle Seahawks, has a deep belief that he can change people by simply listening to them and then making suggestions on how they can get what they really want. If the people Carroll who can influence win, Carroll wins, and remember his team won last year’s Super Bowl with his methods.   When asked for example, here is what ... (click for more)