HOMEBUILDERS ASSOCIATION OF SOUTHERN TENNESSEENot-for-profit trade association comprised of professional builders, developers, and associated firms who are involved directly or indirectly in home building, remodeling, and light commercial construction.CHATTANOOGA ASSOCIATION OF REALTORSThe Chattanooga Association of Realtors is a Realtor association serving the needs of Realtors in Southeast TN and Northwest GA.
Hard hit by the economic downturn, real estate is attempting to lift its way out of the recession one house at a time, and local homebuilders and agents said they are optimistic for strong sales through the year’s end.
“We’re probably returning to a normal market,” said Randy Durham, president of the Chattanooga Association of Realtors.
“This past year’s sales were higher than any year’s before 2002,” he said, noting that 2003-07 were exceptionally high levels. “We’re seeing a stabilization in prices and an increase in appreciation.”
Jay Bell of Bell Development said he is also seeing signs of improvement. “I’m seeing the market come back. It’s slow and sporadic, but it’s coming back,” he said. “A lot of times, I can sign the first offer that comes across my desk. I couldn’t do that in 2007.”