Kim Bass: April Housing Market Statistics

Wednesday, May 15, 2019 - by Kim Bass, president, Greater Chattanooga Realtors
The warm weather is here, and homebuyers are returning in force this spring. For well-priced homes in desirable locations, the competition can be fierce. For much of the country, the first quarter of 2019 experienced less foot traffic, which impacted potential home sales. In some areas of the country low affordability, higher prices, and lower inventory situation contributed to slower sales across real estate markets. 

Locally, New Listings in the Chattanooga region increased 18.4 percent to 1,428.
Pending Sales were up 13.8 percent to 1,072. Inventory levels grew 3.0 percent to 2,648 units. Prices continued to gain traction. The Median Sales Price increased 11.5 percent to $199,000. Days on Market was down 10.5 percent to 51 days.

Absorption rates were even with last year as Months Supply of Inventory remained flat at 3.1 months.
The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce
prices to land where buyers are most active. Neither situation is likely to occur in 2019, yet inventory is straining to keep pace in the most competitive price ranges.


Real Estate Transfers For July 4-10

Kim Bass: Home Buyers Rank Commute Time Above Square Footage

Tennessee Home Sales Tick Up, Median Price Keeps Rising, Available Properties Decline


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)

I know a lot of people, but I don’t know anyone who loves sitting in traffic. Sitting still on the road keeps us from doing what we want to do, and I hate it. And I’m not alone. In fact, an interesting ... (click for more)

There were 8,057 single-family home closings in Tennessee in June, down four percent from a year earlier, while the median price rose and available homes tightened, according to data compiled ... (click for more)


Real Estate

Real Estate Transfers For July 4-10

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: Home Buyers Rank Commute Time Above Square Footage

I know a lot of people, but I don’t know anyone who loves sitting in traffic. Sitting still on the road keeps us from doing what we want to do, and I hate it. And I’m not alone. In fact, an interesting new study shows that commute time is extremely important to buyers when they're deciding on a home to purchase. Eighty-five percent of buyers say they would sacrifice other home features, ... (click for more)

Breaking News

Shots Fired Through Locked Door Killed Man, Injured 2 Others Near UTC Campus; Omerrieal Woods Had Been Released On Federal Bond

Chattanooga Police said the incident in which one man was killed and two others injured at an apartment near the UTC campus involved shots being fired through a locked door. Police have arrested both suspects involved in the fatal shooting Sunday. Omerrieal Woods was apprehended Monday evening by the Chattanooga Police Department's Fugitive Unit with assistance from the ... (click for more)

Chattanooga Man Who Spent Over 14 Years At Brushy Mountain Set To Go Back Behind Bars

A Chattanooga man who spent 14 1/2 years at Brushy Mountain State Penitentiary is set to go back behind bars. Gary Dewayne Cross, 42, on Tuesday was sentenced by Judge Travis McDonough to serve eight years in federal prison. He had initially been facing much more time with an initial guideline range of 262-327 months due to his meeting the category of an armed career criminal. ... (click for more)

Opinion

Disappointed In The Collegedale Commission

Back a long time ago, when I was in high school at McCallie, us students were afforded a lot of freedoms. But those freedoms came with the expectation that you knew, above all else, to be honest and truthful. From the outset, this was always assumed to be the case. For example, if you missed a test, you could take it at home and return it the following day, along with a signed statement ... (click for more)

Roy Exum: Why I Picked Home Depot

I know precious little about hot water heaters except for Rule No. 1 – when one that’s older than your youngest child starts leaving a pool of water on the kitchen floor, “take low and go.” Replace the thing and forget about it. I don’t want to discuss it, don’t want be a prudent buyer by taking half the day to study it, and I am not about to drive all over town to find the best ... (click for more)