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."

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Potts Brothers Land and Auction will host an onsite auction Saturday, Nov. 19, at 10 a.m. Online bidding will be available for real estate only.  The auction will be for a three-bedroom brick home, 105+/- acres and personal property.  The land will be sold in tracts or as a whole.  The location is 6446 Straight Gut Road, selling Clarence and Celia Hunt ... (click for more)

Real Estate Transfers For Oct. 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)

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Picture a sold-out baseball game at Wrigley Field or Nationals Park packed with 40,000 fans. That image represents roughly the same number of women and men who die from breast cancer each year.  In Tennessee alone, an estimated 900 women will die from the disease in 2016. It is a sad statistic, but there is some good news: thanks to early detection and improved treatments, ... (click for more)

Roy Exum: What Southerners Sing

Barry Norris plays the organ at Birmingham’s East Lake United Methodist Church and two days ago the church hosted what we used to call “A Singing on the Grounds.” Today it is called a “Hymnfest” and, believe it or not, it is has to be just as fun today as it was 100 years ago when our forefathers tied their horse and wagon to a tree. It just so happens I know a little bit about ... (click for more)