Find out what clicks on Foxbusiness.com.
A city in the south-east of Tennessee draws from house buyers.
This city is Chattanooga and, according to the agency, the general partner of Chattanooga, Becky Cope English, real estate market Gradually becomes warmer.
Chattanooga is not far from the border of Tennessee-Georgia and houses some 187,000 residents, according to US Census Bureau.
Drone view of Chattanooga and the Tennessee river, Tennessee. (Photo of: Joe Sohm / Visions of America / Universal Images Group via Getty Images) (Joe Sohm / Visions of America / Universal Images Group via Getty Images / Getty Images)
According to Grea Greater Chattanooga Realtors, according to 10,300 house sales, was closed in the region in 2024.
The Englishman noted that Chattanooga saw a “little drop” last year, but added that the market was “just online with what I would call a more normal market” after the previous years during the covid being “so much larger than the others”.
Palm Beach, the Southern Wall Street, has a hot luxury real estate market
She assigned this to the impact of interest rates on buyers. The rate of fixed mortgages at 30 years was on average 6.9% in 2024, according to Bankrate.
“I have the impression that the elections are behind us. I believe that consumer confidence increases,” English told Fox Business. “It is not supposed to be a political declaration at all, but when we have companies and with less regulation, we tend to have lightness with confidence.
The Chattanooga agency expects the region to see “some of our best years” in 2025 and especially 2026, according to English.
There is a lot of interest for Chattanooga and Tennessee overall Thanks to several factors, she said.
“From the point of view of the place where we are on the climate plan, we have the seasons. We have the landscape where we can arrive in the Gulf in six, six and a half hours … And that makes us a very popular destination, not to mention the proximity of Atlanta, Nashville, Knoxville and Asheville, North Carolina,” said English to Fox Business.
Drone view of Chattanooga and the Tennessee river, Tennessee. (Photo of: Joe Sohm / Visions of America / Universal Images Group via Getty Images) (Joe Sohm / Visions of America / Universal Images Group via Getty Images / Getty Images)
Chattanooga and the state of Tennessee “worked very hard to be the state where industry and companies and entrepreneurs want to live, work and play”, according to the agency associated with Chattanooga.
Washington DC gets `Trump Bump ” on the luxury house market
The state “did very well to make this very suitable for tax,” she said, noting that Le Tennessee “has only a sales tax”. He does not take a state income tax On residents.
The lower cost of living compared to other parts of the country played a role – just like the lifestyle The city provides, according to English.
“It is the hospitality of the South, and we are the picturesque city, and it is magnificent,” she said. “We have rivers, lakes, streams and streams. We have the mountain, we are in the southern part of the Cumberland plateau, so we are just a naturally beautiful and blessed area because of our topography, so that means outdoor leisure.”
Chattanooga offers climbing, cycling, hiking, white water rafting and a slew of other outdoor activities, depending on the visit of Chattanooga.
The city also organizes free musical festivals entitled “Block parts” every week between the Memorial Day and the Labor Day, said English, adding that Chattanooga “overflowing with things to do”.
Chattanooga currently has around 2,800 residential properties on the market. The inventory in the region has “slowly and regularly an increase of each month” and “comes back to what I would call the normal inventory,” said English.
Houses sold in the Chattanooga region sold on average $ 330,000 in January, according to the largest real estate agents in Chattanooga. English has planned, which would increase by 2 to 3% throughout the year.
In January, Chattanooga made nearly 560 closed sales and nearly 790 waiting sales.
The Chattanooga real estate market has “always been strong and stable”, making an average of 3% per year, according to English.
The Holmberg bridge in glasses leads to the Hunter Museum of American Art in downtown Chattanooga, tenn. (Valerie Schremp Hahn / St. Louis Post-Dispatch / Tribune News Service via Getty Images) (Valerie Schremp Hahn / St. Louis Post-Dispatch / Tribune News Service via Getty Images / Getty Images)
For the future, she planned that the region “envisaged an increase of around 3%” in 2025, with expectations that it will be stronger than that of the following year.
“It may be because interest rates have dropped a little more,” she said. “I think inflation will be hopeful, a little more under control, and consumer confidence will increase.”
Bozeman, Montana, which houses a booming real estate market
Mortgage rate will reach 6.5% by the end of 2025, the economic and strategic research group of Fannie Mae predicted at the end of January. At the end of 2026, they could be 6.3%.
Confidence is what has retained the market, but “if everyone is starting to take the measures in the right direction of” we feel confident and we will come back to the market “, we will all see a lot of things that will be positive”, according to English. That, she said, will cause “many things that happen that will be very positive and that will also help what we are all fighting with, which is affordability”.