Home Sales Dip In August

Thursday, September 19, 2013

Strong demand for a limited supply of homes for sale has seemingly outweighed higher mortgage rates, at least for the time being. The idea that mortgage rates may rise further is likely spurring some of this demand. The dream of homeownership is very much intact, but buyers should be prepared with competitive offers, since every measure of market health is pointing upwards.

New Listings in the Chattanooga region were down 2.8 percent to 1,037. Closed Sales dropped slightly by 4.1% closing at 652 residential units. Inventory shrank 2.9 percent to 5,149 units. Prices moved higher as the Median Sales Price was up 6.7 percent to $144,000. Days on Market decreased 4.0 percent to 120 days. Months’ Supply of Inventory was down 8.2 percent to 9.0 months, indicating that demand increased relative to supply.

Greater Chattanooga Association of Realtors President Mark Blazek said, "Eyes continue to fixate on the Federal Reserve and its policy inclinations related to stimulus tapering. Labor market growth is positive but still tepid. Things like gas prices, stock market shifts and global economics have a tendency to sway consumer sentiment. At the moment, U.S. housing continues to be a bright spot."



Chattanoogan Kathy Tucker Elected 2017 Secretary-Treasurer For Tennessee Realtors

Kathy Tucker, managing broker of Crye-Leike Realtors in Chattanooga, was installed as 2017 secretary-treasurer for the Tennessee Association of Realtors at its fall convention. She will serve in this key role as part of the statewide association’s 10-member executive committee. Ms. Tucker , CRS, GRI, is a veteran of 38 years as a realtor. She is a member of the Greater ... (click for more)

Andy Hodes Receives RCS-D Designation

Andy Hodes, with Keller Williams Realty East Brainerd has completed course work to earn the RCS-D  designation as a Real Estate Collaboration Specialist – Divorce. An RCS-D realtor is professionally trained to neutralize divorce real estate as a business transaction in the best interest of the house – and each divorcing spouse. Mr. Hodes can be reached at 423 595-7355 ... (click for more)

City To Begin Shipping Much Of Its Garbage To Bradley County

City Public Works Administrator Justin Holland said the city plans to begin shipping much of its garbage to Bradley County. He said the deal is projected to extend the life of the city landfill at Birchwood by 15 years. Mr. Holland said Bradley County "has a huge landfill and takes garbage from Knoxville and other municipalities. It's regional." He said Bradley County charges ... (click for more)

Man Says He Did Nothing To Provoke Shooting At Bakewell Gas Station; Suspect Says Victim Was Coming Toward Him

A 33-year-old man who was shot in the face during a clash at a Bakewell gas station said he did nothing to provoke the shooting. The man charged said the victim cursed him, then started toward him. General Sessions Court Judge Clarence Shattuck, after a hearing on Tuesday, bound to the Grand Jury a charge of attempted first-degree murder against Donald Stuard II, 29, of Old Washington ... (click for more)

Jimmy Templeton Will Be Missed At The City Yards

If only we had known about the Chattanooga City Council's planned retirement send off for Jimmy Templeton of Public Works, the room would have been filled to overflowing with his friends and admirers - including me.   I have had the honor of knowing and working with Jimmy since the 1970's (and also knew his father "Big Jim").  Jimmy was a strong right hand for whoever ... (click for more)

Roy Exum: Vin Scully’s Last Time

It is said that the opening paragraph of my favorite ode to baseball should be the centerpiece for the canon of sports literature. It was written by former commissioner Bart Giamatti in "The Green Fields of the Mind,” a most marvelous essay to the last day of the regular season in the major leagues. “It breaks your heart. It is designed to break your heart. The game begins in ... (click for more)