Each month, housing data offers a snapshot of how our market is evolving - both here in the Chattanooga region and across the country. These insights not only help Realtors guide their clients but also give homeowners and potential buyers a clearer picture of the current landscape. While no two months look the same, one thing remains consistent: data-driven decisions are key in today’s real estate environment.
U.S. existing-home sales edged up 0.8% month-over-month to a seasonally adjusted annual rate of 4.03 million units, exceeding economists’ expectations, although sales were down 0.7% year-over-year, according to the National Association of Realtors (NAR). On a monthly basis, sales increased in the Midwest, Northeast, and South but decreased in the West.
New Listings in the Chattanooga region increased 6.1 percent to 1,432. Pending Sales increased 15.7 percent to 1,008. Inventory increased 28.0 percent to 3,233.
Median Sales Price increased 0.6 percent from $346,250 to $348,200. Days on Market increased 28.2 percent to 50. Months Supply of Inventory increased 23.3 percent to 3.7.
Heading into June, there were 1.54 million units for sale across the country, a 6.2% increase from the previous month and a 20.3% improvement over the same period last year, representing a 4.6-month supply at the current sales pace, according to NAR. Despite the additional supply, home prices have continued to rise nationwide, albeit at a slower pace than during the pandemic, climbing 1.3% year-over-year to $422,800 as of last measure.
To dig deeper into what these trends mean for our local and national markets, the Greater Chattanooga Realtors will be hosting our 2025 Economic Outlook Breakfast, featuring nationally recognized housing expert Dr. Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR. Dr. Lautz will present timely data on housing market trends, generational shifts, buyer and seller behavior, and what’s ahead for the real estate industry.
No matter where the market stands, Realtors are here to help clients make sense of the numbers and stay informed in an ever-changing landscape. With reliable insights and trusted guidance, we’re committed to helping our communities navigate real estate with confidence.
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Greater Chattanooga REALTORS® is The Voice of Real Estate in Greater Chattanooga. A regional organization with nearly 3,000 members, Greater Chattanooga Realtors is one of some 1,200 local boards and associations of Realtors nationwide that comprise the National Association of Realtors. Greater Chattanooga Realtors service Hamilton and Sequatchie counties in southeast Tennessee, and Catoosa, Dade, and Walker counties in northwest Georgia. For more information, visit www.gcar.net or call 423.698.8001.