“One of the biggest housing booms in U.S. history,”
is what top economists are calling the current market. Since 2012, home prices have risen 50% nationwide, NPR reported yesterday.
The big question: Will it last?
Our local Chattanooga market has seen exponential growth–thanks to Volkswagen, Amazon, and our extensive outdoor activities–with the 2018 population coming in over half a million residents. Tennessee’s population has grown to 6.77 million as of January 2019. These factors contribute to the “explosion in demand” NPR’s Greg Rosalsky references in the NPR report.
Skylar Olsen, the director of economic research at Zillow, says this increase in home values has been driven by an explosion in demand. This demand has been fueled by low interest rates, an improving economy.GREG ROSALSKY, NPR NEWS
And right now it’s clearly good to be selling a house. Since home prices hit their bottom after the crash, we’ve seen one of the biggest housing booms in U.S. history.GREG ROSALSKY, NPR NEWS
If you’re ready to maximize this historic market or curious what it means for you, let’s have a conversation. We’re honored to be your real estate resource.
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