Chattanooga Housing Market Sees Rebound
The Chattanooga-area real estate market continued its strong rebound from the disappointing sales earlier in the year according to statistics released today, in both number of homes sold and median price, according to data released by the Multiple Listing Service (MLS) of the Chattanooga Association of REALTORS®.
In July of this year, Southeast Tennessee and the Northwest Georgia area saw the sale of 575 residential units, a 4% increase compared to the previous month’s sales, in the best monthly showing since August of 2008. For the first time in this calendar year, monthly sales have exceeded the same month’s sales of 2008, by .3%, a sign seen by many experts as a return to growth mode.
Demonstrating again the recovery power of the Chattanooga marketplace, the July statistics are showing that, despite the nagging persistence of the nation’s economic challenges and disappointing unemployment statistics on a national level, real estate continues to be the stalwart leader in the U.S. economic recovery picture.
“In our business, we tend to want to be conservative about projecting where we’re heading,” says Nickie Schwartzkopf, President of the Chattanooga Association of REALTORS®. “But, as cautious as I ordinarily am, I can’t tell you how exciting it is to adjust my thinking from seeing the success of three consecutive months as a trend, rather than just a momentary bump in local sales.
Click HERE to read the entire report (PDF File)
