Entry-Level Homes Make A Comeback

Wednesday, October 26, 2016 - by Chris Mabee, President of Home Builders Association Of Greater Chattanooga

While 2015 saw the median size of homes in Hamilton County and surrounding areas increase in number of bedrooms and square footage, smaller homes are making a comeback in 2016. After several years of growth in size, the first half of 2016 saw a slight decline (from 2,465 to 2,392 square feet) and plateau in median square footage of single-family homes. Economists point out this is a positive step in the post-recession cycle of economic recovery.

Chief Economist Robert Dietz at the National Association of Home Builders History recently commented that history has shown us this pattern before, when the country was recovering from previous recessions. During a recession, production of larger, high-end homes ramps up because the buyers of those homes typically have fewer credit constraints than the would-be buyers of more modest homes. This recent decline in home size indicates that smaller homes are increasingly popping up as the economy strengthens and more entry-level buyers return to the market.

An expanding market of entry-level homes in many areas of the country typically includes increased production of town homes, which range considerably in size and price but are often times smaller and less expensive than single-family homes. Town homes make up a relatively small share of the new homes being built, but what many of them offer — medium-density, “urban village” neighborhoods with conveniently located amenities — is very appealing to a large number of buyers from all age groups.

From large custom homes to smaller entry-level homes and everything in between, builders across the Chattanooga are creating dream homes for their clients each and every day. Contact the Home Builders Association of Greater Chattanooga at HBAGC.net to learn more about the countless benefits of owning a new home.  


Real Estate Transfers For Jan. 10-16

Kim Bass: New Home Listings Up In December

D. Frazier DeVaney Elected To 2019 BOMA Board Of Directors


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 ... (click for more)

Home prices were consistently up again in most markets in 2018 but at reduced levels compared to recent years. High demand for few homes for sale fueled price increases, but evidence is mounting ... (click for more)

NAI Charter announced Property Manager D. Frazier DeVaney was elected to the 2019 BOMA board of directors. Mr. DeVaney will be working with Jeff Cuthbertson, owner of SERVPRO , on the BOMA communications ... (click for more)


Real Estate

Real Estate Transfers For Jan. 10-16

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) in ... (click for more)

Kim Bass: New Home Listings Up In December

Home prices were consistently up again in most markets in 2018 but at reduced levels compared to recent years. High demand for few homes for sale fueled price increases, but evidence is mounting that inventory will finally improve in 2019. This may apply some downward pressure on prices for beleaguered home buyers. A fourth interest rate hike by the Federal Reserve in 2018 spooked ... (click for more)

Breaking News

2 Arrested At Soddy Daisy After Vehicle And Foot Pursuit

Two people were arrested Tuesday night after leading a sheriff's deputy on a vehicle, then foot pursuit. A Hamilton County Sheriff’s deputy witnessed a vehicle driving erratically in Soddy Daisy about 10 p.m. The deputy attempted to stop the vehicle at which time the driver fled and a pursuit ensued. The deputy pursued the vehicle until it stopped on Clay Hill Drive ... (click for more)

Fire On Hickory Valley Road Displaces Multiple Apartment Residents

A fire broke out at Evergreen Apartments on Hickory Valley Road when fire broke out at approximately 6 p.m. on Tuesday. Robert Knowles said he had just gotten home from work and was walking to his apartment in the H Building when a woman ran out of her apartment across from him carrying two babies in her arms. He said he could see fire toward the back of her apartment. Mr. ... (click for more)

Opinion

Fake News Strikes Again And Again - Response

Two major stories exploded across the headlines this past week which confirm my opinion that the mainstream media (MSM) is biased, incompetent, and can seldom be trusted to impart the news fairly and accurately. The first instance was the BuzzFeed story regarding Michael Cohen and how he allegedly lied on President Trump's behalf to Congress. Virtually all of the big media outlets ... (click for more)

Roy Exum: Walmart vs 535 Morons

There is an anonymous paper on the Internet that tells how Walmart could do a better job running America instead of the pompous flops and duds we send to Washington. Please try to connect the dots on Walmart’s 1.6 million employees and the obscene profits that they make versus our 535 members of Congress who blow through money while “WallyWorld” churns out an average of $20-thousand ... (click for more)