Jan
25

South Carolina Realtors See a Bottoming Out, Signs of Growth

By
– scbiznews.com

The residential real estate market in South Carolina hit bottom in 2009 and there are signs of a small but definite rebound, according to S.C. Realtors.

Both pending sales and the inventory of homes on the markets have reversed the trends of the economic decline as 2010 comes to a close, said Nick Kremydas, CEO of S.C. Realtors.

Some other signs of an end to the steep decline in the market, according to the group’s annual report:

· The median home sale price actually rose slightly from 2009 to 2010, up 0.7% from $148,900 to $150,000. In 2006, the median price was $167,000.

· The supply of homes on the market at year end has leveled off with inventories still high. Statewide, there were 14.3 months’ worth of homes on the market, about the same as in 2009. In 2006, that number was just 5.4.

ARTICLE SHORTENED DUE TO LENGTH….

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    Categories : South Carolina News

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