Chattanooga housing market on the rise

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Chattanooga's Real Estate market
CHATTANOOGA, Tennessee- Chattanooga housing prices have jumped more than 16% in the past year.

Greater Chattanooga Association of Realtors president Brandi Pearl Thompson said there are several reason the housing market has raised so much in Chattanooga.

She said there this a high demand for home ownership with five generations currently living in the housing market with a limited supply of houses.

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Another reason is interest rates are at record lows.

She adds COVID lockdowns made people change their mindset in where they want to live.

“People are looking at space and they’re evaluating life choices when you experience something that’s life altering their perception changes so we’re seeing a lot of peoples perceptions of weight I can work from home I don’t have to be maybe I don’t want to urban core setting maybe I do want suburbia,” said Thompson.

Thompson said she has also seen an increase of people moving to the area out of states with Covid lockdowns such as New York.