For those of you who did not see this article in a recent edition of the Chattanooga Times Free Press, there’s more good news about the current surge in home sales and home prices at the national level AND in the greater Chattanooga real estate market. Below is an excerpt taken from the article plus a link to the complete article.
(Chattanooga Times Free Press, July 23, 2015, by Dave Flessner)
The National Association of Realtors said Wednesday that sales of existing homes climbed 3.2 percent last month to a seasonally adjusted annual rate of 5.49 million, the highest rate since February 2007. Sales have jumped 9.6 percent over the past 12 months, while the number of listings has risen just 0.4 percent.
The median home price has climbed 6.5 percent over the past 12 months to $236,400, the highest level — unadjusted for inflation — reported by the Realtors.
The Greater Chattanooga Association of Realtors said Wednesday median home prices last month rose locally to $155,000, up 5.8 percent from a year ago. In the first half of 2015, local Realtors sold 7,494 homes or 6.7 percent more than a year ago.