Despite lacking consumer confidence, September was a good month for local home sales, officials said.
"There's some evidence that it's not just first-time homebuyers fueling the recovery," President of the Greater Chattanooga Association of Realtors Mark Blazek said in a prepared statement. "Move-up buyers are also pulling their weight. Some baby boomers are ready to look for less space ... plus there's a fresh crop of buyers looking for a bigger space to raise their own little darlings."
Local leaders said in a news release that the market has "returned to its fruitful and prosperous form."
Buying, selling, building and lending are picking up, officials said.
In September, closed home sales increased 19 percent to 615 residential homes sold.
New listings in the region rose 7.2 percent to 940, and inventory shrank 1.6 percent to 5,173 units.
The median sales price decreased 1.7 percent to $137,000. Days on market decreased 2.5 percent to 119 days, and month's supply of inventory was down 6.3 percent to nine months. That means that demand has increased relative to supply.
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