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 May 12-18

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)

Asking Price For East Brainerd Elementary School Site Is Just Under $5 Million

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Colonel Enicks Is Turning Out Leaders At Red Bank High School

I am a former teacher and football coach at Red Bank High School. I have been a witness to the great things that happen at Red Bank High School.  The teaching staff has a great mixture of experience and promising new teachers.   Dr. Robertson, the principal, is a great man and a wonderful role model for students. He shows up the same way every day and his consistency ... (click for more)

Roy Exum: Hot Rod’s Catfish Dinner

It could well be the best part of playing a prank is in the delicious moments until your “fish” takes the hook. So yesterday afternoon, as I tried repeatedly to talk to a man I haven’t spoken to in 27 years, rather than leave my name I popped off the Happy Birthday song in a snappy, loud way and then ended it with a simple, “Call me,” adding my number. John “Hot Rod” Talley spent ... (click for more)