Jun
18

Charleston Housing Market Rebounding

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With nearly 1,000 closings in May, the Charleston-area housing market is showing signs of recovery, according to data from the Charleston Trident Association of Realtors. Sales volumes last reached this level in June 2010 when the homebuyer tax credit was in place to encourage market activity. The last time volumes were this high in a non-incentivized market was August 2007.

“Sales are closing at a faster pace than we anticipated this early in the season and showings continue to rise,” said Herb Koger, 2012 CTAR president. “There is a lot of pent-up demand in the market and those choosing to buy now are benefiting from incredibly low rates and affordable pricing.”

Showings in the Lowcountry also increased during May — 2,000 more than last month. There were 26,040 showings recorded by the Multiple Listing Service. Beyond increased showings and closings, inventory levels have CTAR Realtors excited about the returning health of the market.

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