Nov
14

Charleston Housing Market Adjusts to New Normal

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The Charleston area new homes market isn’t what it used to be, with single-family-home construction permits hovering around a third of the numbers seen before the real estate crash. But builders say they are adjusting to the new normal and trends appear to be improving.

“I would say we’re not seeing a whole lot of opportunity to increase prices, but there are more people out there looking,” said Jason Esposito, sales manager for the Charleston division of Charlotte-based Eastwood Homes. “We’re going through what is out there a lot quicker than we were before.”

In the new-home market, as in the existing-home market, sales fell sharply when the economy soured. The most positive sign that builders are seeing today is a substantial reduction in the inventory of homes for sale.

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