SignatureBrokers June 16, 2022

The Chattanooga Market Shift is Happening

From our Team Leader, Jeremy Callahan
Pay close attention, agents!  The market correction has already started in Greater Chattanooga. 😳 Take a look at this 2021 vs 2022 Market Snapshot: 📸every metric below seems to indicate we are leaving the extreme seller’s market 🔥 and turning towards a more balanced market. 🏡 Notice I did NOT say market crash- this is a market correction. ⚖️
Inventory Levels and Price Changes are increasing 📈while Closed Sales are decreasing 📉 And because homes aren’t selling quite as easily/quickly as before, Expired and Cancelled listings are increasing as well. ⬆️⬆️⬆️
Couple this with yesterday’s news where the Fed raised the base rate by 0.75% and if you haven’t seen this before, it’s enough to make your head spin. 🤯Especially if you buy into the 💥Dooms Day💥 headlines.
I want to remind you that real estate is hyper local- 📍what’s happening in Chattanooga is not what’s happening in Seattle. And what’s happening in the stock market has little impact on the real estate market. Historical data proves that repeatedly. 🏬
Agents- we have a unique opportunity – the tide is changing! 🌊 This market correction to a more balanced market ⚖️ is actually a GREAT GIFT 🎁 to us with many benefits IF you’re using the RIGHT LANGUAGE and the RIGHT STRATEGIES to accurately consult with your clients and capture the increasing levels of inventory that will be hitting our market in the coming months.
Today, I did a deep dive on what’s happening nationally 🇺🇸 and locally📍right here at home 🏡– we talked about the local metrics, how to have data driven dialogue (facts over feelings) with your clients and prospects, discussed a positive perspective on the interest rate increases, and gave a dozen or more actionable steps you need to be taking in your business right now to THRIVE in this market shift.
It’s time to adjust your sails ⛵️ by adopting a new mindset 🧠 and implementing new components into our businesses so you won’t be left behind 💸
If you want a copy of today’s replay and the slide deck, let me know. It’s time for all of us to up ⬆️⬆️⬆️ our game and raise the bar. 🙌🏼
May be an image of text that says 'March 15- June 15 via Greater Chattanooga Realtors MLS 2626 2021 New Listings Expireds Cancelled Back on Market Price Change Comp Sales Closed 320 381 528 600 Beoe Home andGares REAL ESTATE ↑ +6.7% +12.5% +15.8% -9.5% +8.7% +13.0% -4.0% 2022 New Listings 2802 Expireds 360 Cancelled 441 Back on Market 478 Price Change Comp Sales Closed 422 2060 652 477 1977'