Kim Bass: New Home Listings Up In December

Wednesday, January 16, 2019 - by Kim Bass, president, Greater Chattanooga Realtors
Kim Bass
Kim Bass

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 the stock market to close out the year. The Fed has indicated that the number of rate increases in 2019 will be halved, which may be of little comfort to an already compressed consumer.

New Listings in the Chattanooga region increased 4.2 percent to 689.

Pending Sales were up 2.0 percent to 625. Inventory levels shrank 4.5 percent to 2,615 units.

Prices continued to gain traction. The Median Sales Price increased 8.9 percent to $195,000. Days on Market was down 16.9 percent to 49 days. Sellers were encouraged as Months Supply of Inventory was down 6.1 percent to 3.1 months.

Unemployment rates remained remarkably low again in 2018, and wages continued to improve for many U.S. households. It is generally good for all parties involved in real estate transactions when wages grow, but the percentage of increase, on average, has not kept pace with home price increases. This created an affordability crux in the second half of 2018. Housing affordability will remain an important storyline in 2019.


TVA Employees Teach Girls To Be UnBought And UnBossed

Form Based Code Committee Does Not Allow Large Building Signs For Westside Village

New Condo Project Planned On Hill Above Cherokee Boulevard In North Chattanooga


Two TVA employees were recently honored by Girls Inc. at the UnBought and UnBossed Awards. Nicci Brewer and Kayla Verner-Dingle were recognized for their career achievements and community ... (click for more)

The Form Based Code Committee decided on Thursday not to allow rooftop signs on two buildings that are part of the Westside Village in the southern portion of downtown around Chestnut and Pine ... (click for more)

A new condo project is planned on a hill above Cherokee Boulevard in North Chattanooga. The project will have 26 condo units with space for 52 parking spots beneath three stories of condos. ... (click for more)


Real Estate

TVA Employees Teach Girls To Be UnBought And UnBossed

Two TVA employees were recently honored by Girls Inc. at the UnBought and UnBossed Awards. Nicci Brewer and Kayla Verner-Dingle were recognized for their career achievements and community involvement, which have positively impacted the lives of young women. Ms. Verner-Dingle is a TVA nuclear engineer who volunteers with the Girls Inc. Bookworm Program, Chattanooga Girls Leadership ... (click for more)

Form Based Code Committee Does Not Allow Large Building Signs For Westside Village

The Form Based Code Committee decided on Thursday not to allow rooftop signs on two buildings that are part of the Westside Village in the southern portion of downtown around Chestnut and Pine streets. One request was to put a sign that said Old Gilman Grill across the top of one of the Westside Village buildings at 216 W. 8th Street. The sign was to have been placed on screening ... (click for more)

Breaking News

TDOT Plans To Add 1 Lane In Each Direction To I-24 From Georgia State Line To US 27; New Section Of Apison Pike To Be Widened

The state plans to add one lane in each direction to a seven-mile section of Interstate 24, which is one of the most congested freeways in the country. The purchase of right of way for the project is included in TDOT’s annual three year transportation program. Right of way is listed for 2022 in a section between the Georgia state line and Brown's Ferry Road and another ... (click for more)

Man, 50, Shot In Road Rage Incident On Bailey Avenue; Christopher Bell, 29, Wanted For Attempted Criminal Homicide

A man, 50, was shot on Bailey Avenue on Thursday afternoon, and Christopher Bell, 29, is wanted for criminal attempted homicide. At approximately 3:20 p.m. Chattanooga Police were dispatched to a person shot call at 1050 Bailey Ave. Upon arrival, officers located a man suffering from a gunshot wound. The man stated to police that he and the suspect were involved in a vehicle ... (click for more)

Opinion

Save The Wildlife, Mr. Berke

Why in the world would there be any question regarding the wildlife at East Lake park, and the humane relocation of same? Why would anyone need to beg for the right thing to be done? Maybe if the ducks could ride scooters, there would be money for this. Or maybe if they had means to pay for one of the so-called affordable apartments we have in Chattanooga, they would rate the ... (click for more)

Roy Exum: What's 'Good' About It?

For the biggest part of my life (a real long time) I refused to acknowledge what is “good” about Good Friday. Today, in literally every country on earth, it is ‘Good Friday’ and, nope, nothing is “good” about killing my Jesus. Forget that it is the most singular display of His love for me, and I push all of the human race aside, to stand completely alone, and feel Jesus’ eyes on ... (click for more)