Each June, Greater Chattanooga Realtors joins other associations around the country to celebrate homeownership by showcasing individual homeowners, government officials and various programs that protect and promote the American dream of homeownership.
The purpose of Homeownership Month is to encourage current and future homeowners to advocate for homeownership and to ensure current and prospective homeowners have their voices heard at local, state and national levels of government.
To many people, homeownership offers a sense of pride and security. It also represents a testament to one’s hard work and sacrifices.
As Realtors, we believe it’s vital to take time to observe and promote homeownership and the benefits it provides. In addition to personal pride, homeownership strengthens American communities, offers generational-building opportunities and helps to stabilize and solidify America’s broader economy.
Here’s an interesting fact that highlights the importance of real estate transactions to our economy: Every property sold in Tennessee in 2021 generated $93,000 for the economy.
This amount includes the economic impact of real estate-related industries on the state economy as well as the expenditures that result from the sale of a single home, including home construction costs and real estate brokerage, mortgage lending and title insurance fees.
While home prices have increased, the National Association of Realtors recently released a study showing that the U.S. homeownership rate surged 1.3% to 65.5% in 2020 – the highest annual rise ever – as 2.6 million more households became homeowners compared to 2019.
This was the largest annual increase on record. More and more people are experiencing homeownership.
Throughout the year, Realtors are looking to engage current and future homeowners and to highlight the importance and critical benefits of homeownership in America. That’s Who We R.
Founded in 1912, Greater Chattanooga Realtors is a regional organization with more than 2,500 members servicing Hamilton and Sequatchie counties in southeast Tennessee and Catoosa, Dade and Walker counties in northwest Georgia. The association is one of approximately 1,100 local associations and boards of Realtors nationwide that comprise the National Association of Realtors. Greater Chattanooga Realtors owns and operates a multiple listing service that’s one of approximately 600 MLSs in the country and services more than 2,700 users.