Kim Bass: Selling Season Looks Stable Across The Nation

Wednesday, June 12, 2019 - by Kim Bass, president, Greater Chattanooga Realtors

At this point in the year, we are getting a good sense for how the housing market is likely to perform for the foreseeable future. Although it is not a particularly exciting forecast, it is a desirable one.  Markets across the country are regulating toward a middle ground between buyers and sellers. While it remains true that sales prices are running higher and that inventory options are relatively low, buyers are beginning to find wiggle room at some price points and geographies. 

An extended trend of low unemployment, higher wages, and favorable mortgage rates have been terrific drivers of housing stability in recent years. What is different about this year so far is that prices are not rising as quickly. Some of the hottest Western markets are even cooling slightly, while some Northeast markets are achieving a state of recovery after a decade of battling back from recession. As a whole, the selling season is looking fairly stable across the nation. 

In the Greater Chattanooga area, New Listings increased 7.7 percent to 1,428. Pending Sales were up 18.8 percent to 1,156. Inventory levels shrank 0.7 percent to 2,680 units. Prices continued to gain traction. The Median Sales Price increased 10.8 percent to $205,000. Days on Market was down 12.2 percent to 43 days. Sellers were encouraged as Months Supply of Inventory was down 6.1 percent to 3.1 months. 

The housing market is always subject to change, so seeking the expertise of a realtor will ensure homebuyers and sellers know all of the information available to them. That’s who we R. 

For more information, visit www.gcar.net or call 698-8001.



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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)

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Real Estate

Real Estate Transfers For June 13-19

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)

Greater Chattanooga Realtors Partner With Habitat For Humanity

Since 2014, Greater Chattanooga Realtors has been committed to an ongoing partnership with Habitat for Humanity of Greater Chattanooga to build homes and give back to the community. As part of Greater Chattanooga Realtor’s partnership with Habitat, the organization assists with new construction builds and neighborhood projects and annually contributes $5,000 to sponsor truck ... (click for more)

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