This Month in Real Estate - April 2018

Chattanooga Home Sales

Chattanooga (May 18, 2018) - Many sellers and builders are in a good position for financial gains, as the economy continues to favor putting existing homes on the market and building new homes for sale. We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign. Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months. Learn more >>>>

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WASHINGTON (May 24, 2018) – After moving upward for two straight months, existing-home sales retreated in April on both a monthly and annualized basis, according to the National Association of Realtors®. All four major regions saw no gain in sales activity last month.

Lawrence Yun, NAR chief economist, says this spring’s staggeringly low inventory levels caused existing sales to slump in April. “The root cause of the under performing sales activity in much of the country so far this year continues to be the utter lack of available listings on the market to meet the strong demand for buying a home,” he said. “Realtors® say the healthy economy and job market are keeping buyers in the market for now even as they face rising mortgage rates. However, inventory shortages are even worse than in recent years, and home prices keep climbing above what many home shoppers are able to afford.” More >>>>

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If you're interested in buying or selling (or what your home may be worth in this market), please give us a call to scheduled a no-obligation meeting at (423) 505-4880. We're glad to answer any questions or provide information you can use to make the best real estate decisions. 

-- Cheryl