The Greater Chattanooga Association of Realtors reported this week that area home sales increased for the sixth straight month in June.
“There are a number of factors driving this positive growth trend,” Mark Hite, president of the association, said in a prepared statement. “Increased employment and job creation, along with incredible affordability, all contribute to a more positive consumer outlook and spurs confidence to invest in a home.”
According to association leaders, 664 residental units sold in June—a 21.2 percent increase from 2011 numbers.
The median sales price was up 11.4 percent to $143,000, and local leaders said that price trend has been building for months.
Jennifer DuBois, director of communications for Relator.com, said the Chattanooga-area foreclosure rate is much better than the national average.
And, although Chattanooga isn’t in Realtor.com’s top 10 fastest-growing markets, the local situation remains healthy.
A good unemployment rate and a diverse economy help boost the market, DuBois said.
“Overall, the real estate market does look very, very healthy,” she said.