Jun
28

South Carolina Pending Home Sales Drop 23.8% in May

By
– Columbia Regional Business Report

With 3,111 purchase agreements signed in May, pending home sales statewide decreased 23.8% compared with May 2009 numbers, according to the latest report from the S.C. Realtors Association.

Pending sales represent properties that have accepted offers on them, regardless of whether the sales close.

May provided the first month of data after the conclusion of the 18-month federal homebuyer tax credit program. The association said the tax credit had propped up pending sales during this time frame and the substantial dip a month after it expired was predictable.

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