Brandi Pearl Thomspon: January Housing Market Statistics

Wednesday, February 12, 2020 - by Brandi Pearl Thompson, president, Greater Chattanooga Realtors

We started off the year with continued low interest rates, low unemployment, and rising rents across the country. These factors should encourage healthy buyer demand and sets us up for a strong start to the 2020 housing market and a lot of optimism for the coming spring market.

For the rest of 2020, The National Association of Realtors Chief Economist Lawrence Yun sees good news for home prices. “National median home price growth is in no danger of falling due to inventory shortages and will rise by 4 percent,” Mr. Yun predicts. He is also expecting the new-home construction market sales to increase 10 percent. Mr. Yun and others would like to see home builders bring more affordable units to market to help ease shortages and slow price gains in that segment.

In Chattanooga, New Listings decreased 5.6 percent to 1,022. Pending Sales were up 19.5 percent to 890. Inventory levels shrank 21.0 percent to 2,257 units.

Prices continued to gain traction. The Median Sales Price increased 13.9 percent to $205,000. Days on Market was down 8.1 percent to 57 days. Sellers were encouraged as Months Supply of Inventory was down 29.4 percent to 2.4 months.

It’s worth noting that Closed Sales (number of homes sold) in January 2020 was 26.7 percent more than January 2019. That’s a difference between 555 and 703 homes. The weather might be cool (depending on Tennessee weather), but the housing market certainly is not.

Markets may change, but Realtors’ commitment to serving our clients doesn’t. Navigating a market that can shift quickly is just one reason why consulting a Realtor is so important. We keep a watchful eye on trends locally and nationally that might affect our clients and community. That’s Who We R.


Home Sales Continue To Rise Despite Uncertainty

Real Estate Transfers For March 26-April 1

Brandi Pearl Thompson: The 2020 Census And How It Affects Our Community


According to figures provided by Greater Nashville Realtors, there were 3,346 home closings reported for the month of March. This figure indicates a 3.4 percent increase from the 3,237 closings ... (click for more)

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)

Real estate is still happening, and the government is still happening too. Even though we are in these unprecedented times, we can still do our part to make sure that our community is represented ... (click for more)




Real Estate

Home Sales Continue To Rise Despite Uncertainty

According to figures provided by Greater Nashville Realtors, there were 3,346 home closings reported for the month of March. This figure indicates a 3.4 percent increase from the 3,237 closings reported for the same period last year. Data for the first quarter of 2020 showed 8,776 closings, a 9.1 percent increase from the 8,047 closings during the first quarter of 2019. ... (click for more)

Real Estate Transfers For March 26-April 1

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)

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On Friday morning the phone rang at 1 a.m., calling Manny Sethi – who is in a race to become the next senator from Tennessee – to come to the hospital. Sethi, who is one of Nashville’s premier trauma surgeons, would then perform not one surgery, but nine more before he went back home about mid-morning on Monday. “I guess I was working about 80 hours a week in the operating room,” ... (click for more)