Chattanooga’s housing market is tipping in buyers’ favor as it continues to stabilize, according to the Greater Chattanooga Area Realtors.
More houses coming for sale and fewer buyers, partly due to interest rates staying high, have started to balance the area’s housing inventory, real estate agent James Meyers said.
“We’re teetering on the edge of what I would consider to be a balanced market,” Meyers said by phone.
(READ MORE: Chattanooga area housing market is becoming more balanced)
Generally, a balanced market has enough homes for sale that the inventory would last around six months if buying continued at the same rate.