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.


Chattanooga Neighborhood Enterprise Hosts Ice Cream Social

Real Estate Transfers For Aug. 8-14

Holiday Inn Express In Lookout Valley Sells For $8.8 Million


Chattanooga Neighborhood Enterprise will be hosting a free Homebuyer Ice Cream Social on Tuesday, Aug. 27 from 5-7 p.m. at The Camp House on MLK. The Homebuyer Ice Cream Social will be an opportunity ... (click for more)

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)

The Holiday Inn Express in Lookout Valley has sold for $8.8 million. It is located at 3710 Modern Industries Parkway near the Cracker Barrel. The sale was to Vishnu Investments Llc from ... (click for more)


Real Estate

Chattanooga Neighborhood Enterprise Hosts Ice Cream Social

Chattanooga Neighborhood Enterprise will be hosting a free Homebuyer Ice Cream Social on Tuesday, Aug. 27 from 5-7 p.m. at The Camp House on MLK. The Homebuyer Ice Cream Social will be an opportunity for those interested in buying their own home to ask questions and have discussion with CNE’s Mortgage Advisor and Homebuyer Counselors while enjoying a sweet treat. "The social ... (click for more)

Real Estate Transfers For Aug. 8-14

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)

Breaking News

Motorcyclist, 55, Killed In Collision With SUV On Tuesday Morning On Lee Highway

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Construction Set To Start Next Spring On $25 Million Chattanooga Airport Parking Deck; Terminal To Expand; Enplanements Continue To Increase

Terry Hart, president of the Chattanooga Airport, said at the August board meeting that it has been a good summer for the airport with enplanements in June increasing 12½ percent above last year and seven percent in July. For the first seven months of the year, enplanements are up 12 ½ percent with an increase of 2,500 arrivals and departures year-to-date over 2018. However, a leveling ... (click for more)

Opinion

What Does The White Privilege Presentation Have To Do With Education?

On Aug. 2, Hamilton County Schools held a professional development presented by motivational speaker, Robert Jackson. The PD was for the teachers in the Opportunity Zone, which includes the 12 lowest-performing schools in Hamilton County where 90 percent of the students are black. During the 90-minute presentation, there was a 15-20-minute segment concerning “White Privilege”. ... (click for more)

Roy Exum: 'White Privilege' Is A Myth

Several weeks ago, I must admit I had never heard of Patrick Hampton, an African American who has just joined a promising conservative think talk not-for-profit group known as Hamilton Flourishing. Headed by longtime executive and dream-maker Doug Daugherty, the group is in the perfect position to make a lasting impact on our all-inclusive community. Patrick Hampton made a huge ... (click for more)