Kim Bass: June Housing Market Statistics

Tuesday, July 16, 2019 - by Kim Bass, president, Greater Chattanooga Realtors
The relationship between our nation’s economy and the housing market is complicated. On one hand, residential real estate markets across the country are performing well within an economic expansion that will become the longest in U.S. history in July. However, there are signs of a slowing economy. 

The economy is still performing well due to factors such as low unemployment and solid retail sales, but uncertainty remains regarding trade tensions, slowed manufacturing and meek business investments.
 
The Federal Reserve considers 2.0 percent a healthy inflation rate, but the U.S.
is expected to remain below that this year. The Fed has received pressure from the White House to cut rates in order to spur further economic activity, and the possibility of a rate reduction in 2019 is definitely in play following a string of increases over the last several years. When you put all of these factors together, you can see the delicate balance between the housing market and our economy.

Locally, in June New Listings in the Chattanooga region decreased 7.9 percent to 1,283. Pending Sales were up 11.1 percent to 982. Inventory levels shrank 6.3 percent to 2,794 units.

Prices continued to gain traction. The Median Sales Price increased 7.5 percent to $214,900. Days on Market was up 4.7 percent to 45 days. Sellers were encouraged as Months Supply of Inventory was down 11.1 percent to 3.2 months.


Kim Bass: Respectfully Serving Our Community

Habitat For Humanity Has Double Dedication Ceremony Saturday

Chad Wamack Closes 4 Deals


We have all received them…the annoying telemarketing call or knock at the door, interrupting family dinner night. You thought they would eventually go away, especially after you registered your ... (click for more)

Habitat for Humanity of Greater Chattanooga will celebrate a double dedication ceremony in honor of new homeowners, Betty Hurd and Vanester Steele. The ceremony for the homes, located right across ... (click for more)

Chad Wamack of NAI Charter announces the closing of four deals in the Southeast Tennessee market. Two buildings were previous Pioneer Title Agency locations; 6150 Shallowford Road (2,000 square ... (click for more)


Real Estate

Kim Bass: Respectfully Serving Our Community

We have all received them…the annoying telemarketing call or knock at the door, interrupting family dinner night. You thought they would eventually go away, especially after you registered your phone number on the do-not-call list. The reality is that that pesky telemarketers will risk almost anything to try to reach people, including breaking the law. And it’s not only ... (click for more)

Habitat For Humanity Has Double Dedication Ceremony Saturday

Habitat for Humanity of Greater Chattanooga will celebrate a double dedication ceremony in honor of new homeowners, Betty Hurd and Vanester Steele. The ceremony for the homes, located right across the street from each other, will take place at 10 a.m. Saturday at 3415 Kirkland Ave. in Alton Park. Habitat for Humanity’s dedication ceremonies commemorate a family completing the ... (click for more)

Breaking News

CFC Interested In Having 3 Soccer Fields At 13 Acres Of Montague Park Available For Development; Montague Descendants Oppose Any Commercial Use

The city of Chattanooga is seeking Requests for Proposals for the development of 13 acres at Montague Park by E. 23rd Street. A pre-bid meeting was held at the site on Wednesday morning, and the proposals are due by Sept. 10. A city panel will review the proposals and make a recommendation. Tim Kelly, chairman and co-founder of the Chattanooga Football Club, confirmed that ... (click for more)

State Dismisses Manslaughter Charge Against Jadarius Knox; Anguished Mother Of Victim Says "He Didn't Have To Kill Him"

The District Attorney's Office on Thursday dismissed a voluntary manslaughter charge against Jadarius Knox, saying evidence in the case in which Dakota Biddle was killed showed a self defense theory could be found to be valid. Knox was original charged with criminal homicide in the May 2018 incident on Basswood Drive, but it was reduced to voluntary manslaughter at the Grand ... (click for more)

Opinion

Are There Too Many Hamilton County Schools?

Two recent articles reveal a great deal about the present state of local public education. Mixing and matching information and reading between the lines reveals even more. First, there is that loooonnnngg list of Top Hamilton County Schools Salaries 2019. That nearly incredible list covers only salaries from $70,000 and up, and includes 290 different individuals -- approaching ... (click for more)

Roy Exum: A Drum Major For Peace

There have been many Christmas Seasons when I have looked high and low for Christmas Cards that included the poem, “One Solitary Life.” I came across the revered poem easily over 40 years ago during a kiddie matinee at the famed Radio City Music Hall, which is in midtown Manhattan. The Radio Music Hall is huge – it can comfortably seat 6,000 – and so awesome is the Christmas Spectacular ... (click for more)