November Home Sales Report

Monday, December 17, 2018 - by Geoff Ramsey, president, Greater Chattanooga Realtors
The booming U.S. economy continues to prop up home sales and new listings in much of the nation, although housing affordability remains a concern. Historically, housing is still relatively affordable. Although Freddie Mac recently reported that the 30-year fixed rate is at its highest average in seven years, reaching 4.94 percent, average rates were 5.97 percent ten years ago, 6.78 percent 20 years ago and 10.39 percent 30 years ago. Nevertheless, affordability concerns are causing a slowdown in home price growth in some markets, while price reductions are becoming more common.
 
New Listings in the Chattanooga region decreased 6.3 percent to 849, and despite this drop New Listings are up 3.1 percent year-to-date.
Pending Sales were up 1.5 percent to 678. Inventory levels shrank 5.9 percent to 2,889 units.
 
Prices continued to gain traction. The Median Sales Price increased 6.2 percent to $190,000. Days on Market was down 14.0 percent to 49 days. Sellers were encouraged as Months Supply of Inventory was down 7.9 percent to 3.5 months.
 
The Bureau of Labor Statistics recently reported that the national unemployment rate was at 3.7 percent. Low unemployment has helped the housing industry during this extensive period of U.S. economic prosperity. Home buying and selling activity relies on gainful employment. It also relies on demand, and builders are showing caution by breaking ground on fewer single family home construction projects in the face of rising mortgage rates and fewer showings.

Real Estate Transfers For March 7-13

Crye-Leike’s Chattanooga Region Rookie of the Year Award Recipients Announced

Habitat for Humanity of Greater Chattanooga Area To Host Women Build Breakfast Saturday


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)

Realtor Chrissy Jones and The Next Gen team, consisting of Affiliate Brokers Sara Poteet and Maria Kissner, received the 2019 Crye-Leike Rookie Agent of the Year and Rookie Team of the Year awards ... (click for more)

Habitat for Humanity of Greater Chattanooga Area is hosting its annual Women Build Breakfast presented by Raymond James. The event will be held Saturday from 9-10:30 a.m. at The Chattanoogan ... (click for more)


Real Estate

Real Estate Transfers For March 7-13

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)

Crye-Leike’s Chattanooga Region Rookie of the Year Award Recipients Announced

Realtor Chrissy Jones and The Next Gen team, consisting of Affiliate Brokers Sara Poteet and Maria Kissner, received the 2019 Crye-Leike Rookie Agent of the Year and Rookie Team of the Year awards for the Chattanooga region. Ms. Jones and The Next Gen team were the number one agents for sales transactions among new Crye-Leike agents in 2018 within their region. Ms. Jones is ... (click for more)

Breaking News

Parents Of Officer Galinger File $10 Million Lawsuit Against Janet Hinds In Hit And Run Death

The parents of a city police officer who was killed in a hit and run has sued the woman charged with his vehicular homicide. The suit in Hamilton County Circuit Court asks $10 million from Janet Kirk Hinds. It was brought by Barry and Gretchen Galinger in behalf of the two son of Officer Nicholas Galinger, a rookie who had recently moved to Chattanooga from Cincinnati. ... (click for more)

John Harvley Killed In 2-Car Crash Monday Evening In East Ridge

John Charles Harvley, 58, was killed in a collision on Monday evening. He resided at 1520 Merrill Street in East Ridge. On Monday at approximately 5:45 p.m., East Ridge Police responded to a traffic crash on Ringgold Road at Altamaha Street. A Dodge pickup truck was traveling west on Ringgold Road. The truck was occupied by the driver, Jacob Alexander, and his passenger, Michael ... (click for more)

Opinion

Chivalry Is Not Dead

On the evening of Tuesday, Feb. 26, I was driving up Lookout Mountain taking my mother home. My 2-year-old granddaughter was also along for the ride. Halfway up Ochs Highway in the middle of a blind curve, at rush hour, my car simply died. Smoke poured out from under the hood, and we were completely stranded. There was a long line of cars stuck behind us unable to go around because ... (click for more)

Roy Exum: What’s Become Of Roy?

Today I must begin by telling my Chattanoogan.com readers how humbled and touched I am by the dozens of emails I have received in recent weeks, all concerning my daily disappearance from this website. I like to think my daily musings may, in some way, have a ripple effect on some of the people, the places, and the things that intrigue me. I believe I have rarely sought popularity, ... (click for more)