Realtor.com names Chattanooga as top housing market to watch


Chattanooga has made Realtor.com’s list of the top housing markets in the country to watch, as inventory declines and housing price gains are prompting homebuyers into lesser-known areas.

A new report from the homebuying resource ranked Chattanooga among cities, such as  Spokane, Washington.; Portland, Maine and Knoxville, that are seeing high demand thanks to relative affordability, inventory, and strong job markets. 

“Buyers have traditionally sought refuge in the suburbs during times of high home prices,” Realtor.com Economic Research Director Javier Vivas said in a prepared statement. “But with today’s record highs even the suburbs have gotten pricey, which has demand flooding outward as options disappear and prices move further out of reach in top job hubs.”

Here’s what Realtor.com said about Chattanooga:

Chattanooga hosts a vibrant night life scene, with plenty of bars and restaurants, as well as easy access to the mountains and lakes for those who enjoy spending time outdoors. East Brainerd, located just 20 minutes from downtown, is popular with young couples and new families, while Hixson boasts higher-end real estate market great for established professionals and families.

Volkswagen recently completed a $1 billion production facility in Chattanooga that serves as its North American manufacturing headquarters, and they just announced an additional investment of $600 million and 2,000 new jobs to produce their SUV line.

Key market statistics – Chattanooga has a median list price of $230,000 with a median income of $53,000. It is expected to have 2.6 percent job growth this year.

Updated @ 4:43 p.m. on March 1 to correct a typographical error.





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