Home sales were down mildly in Chattanooga in April.  Closed Chattanooga home sales were down by 4.2% in April.  Pending Chattanooga home sales were also down by 2.6%.  The main reason that homes sales are down is because of the lack of available homes.  Lawrence Yun (the National Association of Realtors Chief Economist) says that sales will be down by 9% this year when it comes to the number of units sold due to the housing shortage.  He does not anticipate that home prices will go down. Yun predicts that home prices will rise by 8% nationally this year. 

April Chattanooga home prices were up 20.5% from 1 year ago.  The median sale price is now $302,500. Rising interest rates are making homes less affordable for some people, but there are still many people waiting for their perfect home to come on the market.  Call Nathan to help you buy or sell a home. 423-544-7700

 

Watch a home stats video at the following link

https://youtube.com/shorts/F5tnh2QrsGo?feature=share