Home Sales Report For April

Friday, May 23, 2014

The public has finally grown used to talk of a real estate market in recovery. With prices going up, people are starting to wonder if a new bubble is forming. Most metropolitan markets are somewhere between recovery and normalization. Supply is still tight but improving in some areas. What housing really needs is further job and wage growth to support healthy demand levels fueled by new household formations.

New Listings in the Chattanooga region decreased 5.2 percent to 1,121. Pending Sales were down 43.2 percent to 400. Inventory levels shrank 3.3percent to 4,990 units.

Prices remained determined. The Median Sales Price increased 11.4 percent to $149,900. Days on Market was up 2.4 percent to 129 days. Absorption rates slowed as Months Supply of Inventory was up 2.3 percent to 8.9 months.

Officials with the Greater Chattanooga Association of Realtors said, "April's job growth was above expectations. Growth is likely to accelerate through the year, but the types of jobs being created is also important. We're producing more low-wage jobs as opposed to high-wage jobs. That's not conducive to increasing the number of potential buyers. It also means less disposable income sloshing around. Even so, some local markets may pause but are unlikely to falter thanks to suppressed supply levels and an improving sales mix. Don't confuse temporarily weak demand indicators for stagnation."



Mike Croxall: Dream Up A More Functional, Appealing Garage

When you think about the spaces in your home where you most enjoy spending your time, the garage is probably not at the top of the list. Here are some ways to make it a more functional — dare we say — attractive space.  Wall, Freestanding and Overhead Storage There are several types of sturdy, free-standing shelving units and hanging fixtures available. But pay close ... (click for more)

Couple Gets Recommendation Of Approval For Bed And Breakfast At East Brainerd Farm

A couple on Monday gained a recommendation of approval from the Planning Commission for a bed and breakfast inn in existing space at their East Brainerd Farm. Philip and Jennifer Clay said the income from the room rentals is necessary for their overall operation of Everlee Farm on 20 acres on Davidson Road. Councilman Darrin Ledford praised the farm operators, saying they ... (click for more)

Home In Alton Park Damaged By Fire Friday Morning

No injuries were reported in connection with a house fire in Alton Park Friday morning. The Chattanooga Fire Department received the alarm around  8:30 a.m.  and responded to 4020 Highland Ave. with five fire companies. When the first firefighters arrived on the scene, one of the residents of the house was concerned this his wife might still be inside. The firefighters ... (click for more)

Cliftina Jones Charged In Death Of Orange Grove Center Client, Whose Body Was Found In Van

A Chattanooga woman has been charged in the death of an Orange Grove Center client whose body was found April 18 at an Orange Grove residence. Cliftina K. Jones, 60, was indicted by a Hamilton County Grand Jury on a charge of criminally negligent homicide. Police said at the time there was no sign of trauma on the body of 60-year-old Carrie Lee Parkey. S taff at ... (click for more)

Technology: The Virtual Drug

The truth is you're probably reading this on a mobile device or your computer. As a matter of fact, I’m typing this down on a MacBook Pro. The point is technology is everywhere. It engulfs like a tsunami engulfs a village, only a few ever escape. In fact, it took me two hours to start this paper because I was so hypnotized by phone, checking my Instagram and seeing what the next ... (click for more)

Roy Exum: The Lesbian’s Daddy

I’ve always held the belief that things work out for the best. Oh, I’ve been in some tights where I couldn’t see the forest for the trees but, in the up-and-down life I have lived, I’ve found that God doesn’t make mistakes. If I’ll just hold on long enough, no matter how bad the circumstances, something good will happen. It always does. One of the best examples I have seen lately ... (click for more)