Aug
15

SC REALTORS® Release July Figures

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South Carolina REALTORS® (SCR) today released its July 2011 statewide market reports. At the height of summer, we’re finally beginning to move beyond comparisons to the 2010 incentive market. Even so, sudden changes in sales volumes are likely due to factors occurring at this time last year. Qualified buyers may find more attractive opportunities now than during either of the recent tax credits. Interest rates should hold their ground around five percent, though the shift in the federal credit rating could change that. Some indicators suggest improving conditions.

New Listings in the state of South Carolina decreased 22.5 percent to 7,520. Pending Sales were up to 10.2 percent to 4,392. Inventory levels shrank 13.6 percent to 54,807 units, but consumers are still finding terrific opportunities. Prices softened a bit. The Median Sales Price declined 3.2 percent to $150,000. Days on Market increased 8.0 percent to 141 days. Absorption rates improved as Months Supply of Inventory was down 5.4 percent to 14.0 months.

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    Categories : South Carolina News

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