Chattanooga Home Sales Up 16% Over 2011

The Chattanooga residential market is up in 2012 over 2011. The number of home sales reflects a 16% increase so far this year to date compared to same period last year. What is interesting is that lower priced homes did not increase in sales as much as the higher priced homes. The number of homes that sold between $250,000 and $1M increased from 807 last year to 1,066 in 2012, or a 32% increase! The number of homes sold between $100,000 and $250,000 increased 19%. The number of homes under $100,000 increased only 6%. That probably means that first time home buyers are still struggling to get on their feet. The good news is that there are good jobs for the middle class in Chattanooga and the borrowers are strong enough to pick up great deals in a very affordable market!