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It has been quite the whirlwind of a real estate market over the last few years here in Chattanooga, TN. We hit all time lows with interest rates as well as all time highs with home value increases. Homes were selling in less than 24 hours and with little to no contingencies. Throughout 2022 and 2023, we started to see that change a bit as the interest rates began to increase which changed a lot of people’s buying power. It has been all over the news and social media lately that interest rates are expected to drop in 2024 which would mean a lower mortgage payment for buyers. While you may be saying to yourself, “I’ll wait to buy a home when the interest rates drop,” we’re here to discuss why that may not be in your best interest. While we can’t…

The Chattanooga area housing market is booming. Homes are getting multiple offers and selling in just days of being listed. There are hardly enough homes in inventory for the amount of people looking to buy.

So … when will the bubble burst? Are we looking at another housing crisis on the horizon?

With the demand for homes only going up in this bustling market, we’re looking at the possibility of housing prices raising to the point that buyers won’t be able to afford them. Although we aren’t there yet, with home prices trending upwards, we have to look back and consider what that meant historically in the real estate market.

In the past, when home prices have gone up at this rate, it kept many potential buyers—from young newlyweds looking for…