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."


Real Estate Transfers For April 20-26

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)

Eagle Bluff Woods To Feature New Homes Inside Eagle Bluff Golf Community

 Eagle Bluff Woods featuring new homes inside Eagle Bluff will have a grand opening on Thursday at 10 a.m. It will be at 7216 River Run Dr. Better Homes & Gardens Real Estate Signature Brokers, GT Issa Construction, and The Chattanooga Area Chamber of Commerce will coordinate this event. The new residential community within the Eagle Bluff Golf Club community will ... (click for more)

Severe Thunderstorms Cause Damage On Signal Mountain; Widespread Power Outages Reported

Severe thunderstorms that came through around  7:30 p.m.  brought trees down on Signal Mountain, and widespread power outages were reported. Two homes that had damage were at  205 Sunnybrook, with eaves and gutter damage, and  601 Dunsinane Road, with major damage to the roof line and a tree fell through the living room area. No injuries were ... (click for more)

Rescuers Called Out After Male Hits Head After Fall From Rope Swing; He And Companions Trapped On One Side Of The Creek

Rescue crews were setting up a safety line at the first creek crossing at the Pocket Wilderness at the foot of Mowbray Mountain after a male was injured on Saturday night and he and his companions were blocked by high water. Around 7:30 p.m. , a 911 call was made reporting the male had fallen from a man-made rope swing and hit his head on the rocks below at the Blue Hole ... (click for more)

Whatever Happened To The People's Game Warden?

Earlier this year a Chattanoogan.com article published a Tennessee Wildlife Resources Agency  (TWRA) Wildlife Officer encouraging readers to turn in anyone keeping or caring for an orphaned raccoon, squirrel, bunny or deer, because it may have rabies or pose a danger to some fictitious person.   In another  article, the TWRA Officer invaded a girl's home, seized ... (click for more)

Roy Exum: Einstein Explains Insanity

In September of 2002, a detailed study of “Tennessee Schools on Notice” was prepared by the state’s Office of Education Accountability. This was when Senator Bob Corker was the Mayor of Chattanooga and it proves, pretty thoroughly I might add, that after millions upon millions of extra dollars have been poured down the collective drains at schools such as Orchard Knob, Clifton Hills, ... (click for more)