Chattanooga Real Estate Market Outlook
Chattanooga is the fourth largest city in Tennessee. It is located in southeastern Tennessee, close to Knoxville and just across the river from Georgia. Chattanooga proper is home to nearly 200,000 people. However, the Chattanooga housing market includes its suburbs, meaning the Chattanooga real estate market actually includes around half a million people. According to realtor.com’s 2019 housing market forecast, Chattanooga comes in fourth position with balance high sales (5.2 percent) and price (4.3 percent) growth. Employment (1.2 percent) and income (3.3 percent) growth expected for 2019 are both slightly under the national average.
However, the Chattanooga economy is growing at about 6 percent a year and is expected to have one of the lowest median price levels for homes of the top 10. The real estate market in Chattanooga is getting the attention of other cities as well. Homes are selling so fast that some stay on the market only a few hours. The booming economy has made it more difficult for Hamilton county residents to find a home. This shows that the Chattanooga market will remain competitive for both buyers and investors in 2019. Let’s discuss top 10 reasons to invest in the Chattanooga housing market. But before that we shall take a look at some of the market data and trends in this area.
Original Photo via Pixabay
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