Aug
16

Charleston Home Sales Reverse Trend in July, Skid By 37 Percent

By
– The Post and Courier

The momentum that had been lifting local home sales in recent months came to a jarring halt in July, raising questions about the long-awaited recovery of the residential real estate market.

Newly released data from the Charleston Trident Association of Realtors showed 643 area homes sold during July, a striking drop-off from the 1,022 transactions recorded in June. The decline followed the expiration of federal tax credits for homebuyers.

Local agents say they were expecting a drop but they’re struggling to grasp how long the dip will last and how quickly the momentum generated by the temporary tax subsidies will return.
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