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.


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

One Of Athens Park Bloods RICO Defendants Gets 27 Months In Federal Prison On Gun Charge

Che'Anthony Cannon has been sentenced to serve 27 months in federal prison after being convicted of being a felon with a gun. Cannon, who is one of the Athens Park Bloods members charged in a RICO conspiracy in state court, appeared before Judge Curtis Collier. On Feb. 18, 2018, Chattanooga Police Department detectives encountered defendant Cannon stepping out of a vehicle ... (click for more)

Woman Says McCallum Choked Her, Threw Her Out Of Moving Car

A woman said she was choked and thrown out of a moving car by a man who was jealous that men flirted with her at a bar. Isaiah Ray McCallum, 28, of 2200 Elder St. was charged with kidnapping, aggravated assault, vandalism and interfering with emergency calls. McCallum had prior charges of assault, vandalism and passing worthless checks. In the incident on May 11, the woman ... (click for more)

Opinion

Insultingly Low Sheriff Salaries Mean We Are Losing Officers And Those Who Stay Must Work Extra Jobs

I reckon it is time for the gloves to come off as negotiations seem to have broken down. I speak for no LE Agency, or LE entity. I speak only for myself, and my family, as a citizen, taxpayer and voter.... As you, Hamilton County Mayor Jim Coppinger and our Hamilton County Commissioners sleep safely at night, there are men and women at the HCSO, wide awake keeping ... (click for more)

Roy Exum: To Do The Right Thing

A couple of weeks ago I wrote a story about the upcoming Hamilton Country budget and how the taxpayers are being asked for a $34 million increase for our public school system. “Why are we throwing more money at a dead horse?” was my question and, based on the weight of email that came in the story’s wake, there is a huge percentage of others who are past “sick and tired” in our ... (click for more)