Jul
18

SC REALTORS Release June Figures

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South Carolina REALTORS® (SCR) today released its June Statewide Market Reports. Beyond home prices, key metrics to watch include Days on Market, Percent of List Price Received and Months Supply of Inventory. Locally, several indicators showed improvement.

Comparing the numbers to June 2011, New Listings in South Carolina decreased 8.3 percent to 8,279, while Pending Sales were up 7.3 percent to 4,820. Inventory levels shrank 15.7 percent to 49,496 units. Prices moved higher, the Median Sales Price increased 1.9 percent to $158,000 and Days on Market was down 4.8 percent to 134 days. The supply-demand balance stabilized as Months Supply of Inventory was down 23.7 percent to 11.4 percent.

We seem to be at a critical inflection point in our attempts to spur more hiring. Job growth provides the dual benefit of stimulating new household growth as well as relieving distressed homeowners. There’s also the positive feedback loop of housing creating jobs and jobs creating housing. Keeping the affordability picture afloat, the Fed has vowed to keep interest rates around 4.0 percent through mid-2013.

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