March Housing Market Statistics

Wednesday, April 17, 2019 - by Kim Bass, president, Greater Chattanooga Realtors
Nationally, increasing housing prices and housing affordability remained a concern in many markets, but locally sales prices and inventory levels remained steady. One big takeaway from March is the sharp increase in people listing their property for sale.

New Listings in the Chattanooga region increased 8.2 percent to 1,282. Pending Sales were up 8 percent to 1,084. Inventory levels shrank 1.1 percent to 2,501 units. Prices were fairly stable. The Median Sales Price increased 0.7 percent to $190,000.
Days on Market remained flat at 54 days. Sellers were encouraged as Months Supply of Inventory was down 3.2 percent to 3 months.

The Federal Reserve recently announced that no further interest rate hikes are planned for 2019. Given the fact that the federal funds rate has increased nine times over the past three years, this was welcome news for U.S. consumers, which carry an approximate average of $6,000 in revolving credit card debt per household. Fed actions also tend to affect mortgage rates, so the pause in rate hikes was also welcome news to the residential real estate industry.

All of these factors are looking to make a hot spring buying and selling season. To prepare for this flurry of activity, the Greater Chattanooga Realtors will be hosting our annual Open House Weekend on April 27-28. This event will feature more than 100 Realtor-hosted Open Houses throughout southeast Tennessee and northwest Georgia. Potential buyers who visit open houses this weekend can register for a chance to win one of five $150 gift cards. Get details and preview scheduled open houses at www.gcar.net.

Kim Bass: Realtors Meet in D.C. For Hill Visits And Presidential Address

Habitat For Humanity Appoints 5 New Members To Its Board Of Directors

Habitat For Humanity Makes Impact On Economy According To MTSU Study


Last week members of the Greater Chattanooga Realtors joined more than 10,000 realtors from across the nation in Washington D.C. Our purpose was to further our work with Congress to advance policy ... (click for more)

Habitat for Humanity of Greater Chattanooga announce the appointment of five new members to its board of directors. The new members include Lee Ann Adams, attorney at Gearhiser, Peters, Elliott ... (click for more)

Habitat for Humanity of Tennessee has generated more than $107 million in economic activity last year. The nonprofit’s 45 affiliates have built more than 4,600 homes since its establishment in ... (click for more)


Real Estate

Kim Bass: Realtors Meet in D.C. For Hill Visits And Presidential Address

Last week members of the Greater Chattanooga Realtors joined more than 10,000 realtors from across the nation in Washington D.C. Our purpose was to further our work with Congress to advance policy initiatives that strengthen the ability of Americans to buy, invest, own and sell commercial and residential real estate. This trip is so satisfying because we are able to ... (click for more)

Habitat For Humanity Appoints 5 New Members To Its Board Of Directors

Habitat for Humanity of Greater Chattanooga announce the appointment of five new members to its board of directors. The new members include Lee Ann Adams, attorney at Gearhiser, Peters, Elliott & Cannon, PLLC; Derek Bullard, president and chief executive officer of the Siskin Children’s Institute; Rev. Mike Feely, adjunct professor of history at UTC; Rhey Houston, vice-president ... (click for more)

Breaking News

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East Ridge will dip into its rainy day fund to be able to make a no-tax-increase budget. A presentation of the city’s 2019-2020 budget was made at the East Ridge City Council on Thursday night. City Manager Chris Dorsey thanked Assistant City Manager Kenny Custer and Financial Director Diane Qualls for their contributions to this budget, saying that it had been very far along ... (click for more)

Opinion

It Is Outrageous That County School Administration Used Our Tax Dollars For Political Lobbying

Dear Dr. Johnson, The campaign central at HCDE headquarters needs a Tennessee Little Hatch Act study time and education. The heart of the issue is that HCDE utilized our tax dollars to lobby against vouchers with employee time, equipment, and lobby payments. Here is my point, I supported ESA vouchers for Hamilton County, and so did a lot of families that desired parental ... (click for more)

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A couple of weeks ago I was in the midst of a wonderful crowd and, as we took our places for dinner, there was a bright-eyed fifth-grader seated on my right. Like most his age, he didn’t say much at first but with a nudge or two, he really got it going. He told me how excited he was about going to McCallie this fall and I promised, “Get ready – you are going to have more fun that ... (click for more)