Chattanooga home sales drop amid coronavirus but market beginning to rebound

timesfreepress.com ^ | Dave Flessner

[RoosterRedux]

Home sales in Chattanooga fell nearly 18% last month and the inventory of houses on the market fell by more than 26% as home-bound Chattanoogans were less likely to want to either buy or sell their homes during the worst of the coronavirus shutdowns in April.

But as the economy is reopening and the Memorial Day weekend kicks off the traditional summer season, the housing market appears to be attracting more buyers and sellers. Buoyed by historically low mortgage rates for buyers and rising home prices for sellers, local realtors expect the housing market should rebound, at least to some extent, this summer.

*snip*

"Last week, we saw 299 new listings come to market and we saw 346 homes go under contract.

[RoosterRedux]

I'm in Georgia but curious about the RE market in general in that one of my part-time activities is appraising commercial real estate and farms.

This sounds a lot like good news.

[HighSierra5]

I’ll bet more people will start building off the grid. The urban areas suck. By the way,I enjoy that off the grid show. Some of the hippie stuff I can ignore but it is fascinating. The one thing I couldn’t live with is a composting toilet. Yuck. Do it right like I did. Septic tank and leach lines. My soil is ideal. Decomposed granite and bedrock is pretty dann close to the surface.

[Theophilus]

Listings in my neighborhood in Huntsville AL don’t last a week.

[Ouchthatonehurt]

Always thought it would be nice to live on Lookout Mountain.
Don’t imagine prices have changed much up there.