Housing Market Stutters In Sales In 1st Quarter

Tuesday, April 22, 2014

The end of the first quarter of 2014 home sales proved to be lackluster, based on information being released by the Multiple Listing Service of the Greater Chattanooga Association of Realtors.

Closed Sales were down, slightly, by 4.8 percent, ending with 579 residential homes sold. New Listings in the Chattanooga region increased 11.6 percent to 1,208. Inventory levels shrank 2.4 percent to 4,912 units.

Prices remained determined as the Median Sales Price increased 3.8 percent to $135,000. Days on Market rose 6.3 percent to 135 days. Absorption rates slowed as Months Supply of Inventory was up 1.2 percent to 8.7 months.

President of the Greater Chattanooga Association of Realtors Vicki Trapp said, “Investor activity and cash purchases should be monitored, as well, along with any increases in new construction. Although interest rates are up slightly from their all-time lows, borrowing costs are remarkably affordable. Consumer spending has risen and claims for unemployment benefits have dropped. Positive economic health will fuel housing growth for the remainder of 2014.”

 


Crye-Leike Posts Record Year Of $6.36 Billion In Sales

Tennessee-based Crye-Leike, the nation's fourth largest privately-held residential real estate brokerage firm and the largest in Tennessee and the Mid-South, posted a record sales year of $6.36 billion in 2016, the highest sales performance in the company’s 40-year history.  In comparison, the company reached its peak sales performance at $6.10 billion in 2006.   Crye-Leike’s ... (click for more)

City Of Chattanooga Grants HOME Funds For 16 Affordable Housing Units In Chattanooga

Chattanooga City Council approved a plan from the Department of Economic & Community Development (ECD) to administer more than half a million dollars in federal funds for the creation of 16 affordable housing units in neighborhoods across Chattanooga. These funds from the United States Department of Housing and Urban Development (HUD) are designated under the HOME program, ... (click for more)

Signal School Study Says Under Own School System Much More Could Go To The Classroom; Lennon Says Getting Land, Buildings A Major Issue

A panel studying a new school system operated by Signal Mountain concluded that much more money could go directly into the classroom, helping students further increase their potential.   However, County School Board member Kathy Lennon said how the town would be able to acquire the land and buildings is a major issue.   A group of Signal Mountain residents ... (click for more)

Man, 39, Shot Late Friday Night In The Vicinity Of North Chamberlain Avenue

Police said a 39-year-old man was shot late Friday night in the vicinity of North Chamberlain Avenue.   He was identified as Ruben Williams Sr.   Officers with the Chattanooga Police Department were informed just before midnight that a shooting victim arrived at a local hospital via personal vehicle.   Officers made contact with the victim who advised ... (click for more)

CVB Should Share Financials With The Home Folks

The recent debate over the Convention and Visitor's Bureau's funding and budget has gotten ugly. A Hamilton County commissioner has asked questions and made comments about the CVB. The director of the CVB has organized a campaign to dismiss the commissioner's questions and comments. The children on the playground are choosing sides and nothing useful seems to be happening. It's ... (click for more)

Roy Exum: Trump's Latest Delight

I was quite amused this week when Donald Trump’s administration “locked out” several news organizations from the daily press briefings at the White House. The reason I loved it because in the 50 years I have spent in the news business, I have been locked out of press conferences, too. To be truthful, I am a longtime veteran of a bunch of “you versus me” squabbles and, if I do say, ... (click for more)