The Greater Chattanooga area has shown a robust performance in April’s real estate market. The National Association reports that supply and demand are still affecting our local market with an increase in homes sold in April despite increased home sales prices.
Overall, the U.S. existing-home sales recently fell from a one-year high, dropping 4.3 percent month-over-month to a seasonally adjusted annual rate of 4.19 million, according to the NAR, as higher interest rates and rising sales prices continue to keep some prospective buyers on the sidelines. Average 30-year mortgage rates have topped 7 percent in recent weeks, while the median existing-home sales price hit $393,500 as ... (click for more)