Market Updates

April 13, 2023

Interest Rates and Chattanooga Closed Sales Are Down but Home Prices Are Up

The latest inflation numbers from March are down to 5%. Inflation going down leads to mortgage interest rates going down.  Freddie Mac has mortgage interest rates down to 6.27%.  The Federal Reserve staff have reported that the country will mostly likely experience a mild recession by the ...

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Posted in Market Updates
April 7, 2023

The Fed's Goal of Beating Up the Economy is Working

The Federal Reserve hopes to beat up the economy enough to make inflation come down.  Their goal is to shed jobs and then force the price of goods down.

The ISS Manufacturing Index has been down the past 5 months, the lowest figure in more than a decade.

The ...

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March 18, 2023

Chattanooga Home Buyers Are More Nervous in 2023

In the last month, I have seen the uncertainty in the market make some home buyers more nervous.  Don’t get me wrong, people are still buying homes in the Chattanooga area and home prices are still pretty stable.  1 year ago, a seller had the option to easily ...

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March 3, 2023

Pending Home Sales Were Up 1st 2 Months of 2023

Pending home sales were up during the 1st 2 months of 2023.  As interest rates have come down from their high in November, people are buying homes again.  Home sales are still down from last year at this time, but there is rising home buyer activity.  “Buyers responded to better ...

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Posted in Market Updates
Jan. 25, 2023

Are People Buying Houses Right Now?

Are People Buying Houses Right Now?

The fall was very slow in real estate sales due to the Federal Reserve raising interest rates so abruptly.  Then in November inflation started to ease.  30 year mortgage rates dropped.  In one month's time interest rates went down by ...

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Posted in Market Updates
Dec. 20, 2022

Are the Headlines About Real Estate Accurate?

IMPORTANT THINGS A SELLER SHOULD KNOW!

 

If you’re trying to choose whether or not to sell your house, fresh headlines about home prices may be top of mind. And if those stories have you wondering what that means for your home’s price, here’s what you really need to know ...

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Posted in Market Updates
Dec. 14, 2022

Should I Sell My Home During the Holidays?

Every year, homeowners getting ready to relocate have to decide whether to sell their property during the holidays or wait. And other people who have already listed their properties could consider taking them off the market and waiting until the new year.
 Here are 4 Reasons to sell your ...
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Posted in Market Updates
Nov. 21, 2022

Home Buyers Return to the Real Estate Market with Lower Interets Rates

Chattanooga residential real estate had a wild fall season after the Federal Reserve more than doubled interest rates in a span of months 6 to 9 months.  Mortgage interest rates increased in 2022 at the fastest rate since the early 1980s.  In fact, mortgage rates have never doubled ...

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Posted in Market Updates
Oct. 31, 2022

What’s Ahead for Home Prices?

What’s Ahead for Home Prices?

As mortgage rates continue to rise, the housing market is beginning to cool off. Experts in the media are speculating that home prices could fall or continue to rise. But what’s likely to happen?

It’s anyone’s guess where the dollar will go from here. But ...

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Posted in Market Updates
Oct. 25, 2022

The LATEST on Supply and Demand in Housing

This year, as home sales and buyer competition hit new heights, things are shifting as supply and demand reach an inflection point. The graph below helps tell the story of just how different things are today —

This year, buyer demand has eased as higher mortgage rates and mounting economic ...

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Posted in Market Updates