Chattanooga, TN is One of the Most Overpriced Housing Markets in America

"A new report from researchers at Florida Atlantic University's College of Business identifies Chattanooga, Tennessee, as one of the most overpriced housing markets in the country. Currently, the average home in the area is selling for about $232,860, according to estimates from real estate data company Zillow. This is well above the average predicted price buyers should be paying of $178,478 - an estimate based on calculations using historical sales data."

I know this to be true, I drive around Chattanooga/Ooltewah, Tennessee every day serving the communities in this area through my delivering business and I wonder how these people afford these houses...It's mind blowing. Only thing it tell me it's a lot of old money in the city and the people moving in have high position in a company in a different city and also financially smart.

"The 30.5% premium home buyers are paying on the average house sold in Chattanooga ranks as the 38th highest of the 100 metro areas covered in the report."

"The ranking of the most overpriced cities is based on a methodology developed by researchers Ken H. Johnson, Ph.D., and Eli Beracha, Ph.D."

Check out top 10 ranking below.

  1. Boise City, ID

  2. Austin, TX

  3. Ogden, UT

  4. Phoenix, AZ

  5. Provo, UT

  6. Las Vegas, NV

  7. Spokane, WA

  8. Atlanta, GA

  9. Salt Lake City, UT

  10. Detroit, MI

16. Memphis, TN

21. Nashville, TN

32. Knoxville, TN

38. Chattanooga, TN

Source: TimesNews

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