Florence Housing Market ‘Approaching Equilibrium’


Up down real estateThe Pee Dee Realtor Association says 2014 was another recovery year and the housing market has shifted from being “drastically undersupplied to approaching equilibrium.”

The market assessment was included in the association’s report on Tuesday of December real estate numbers. Pee Dee Realtor Association President Sandy Gaskins said she is looking forward to a strong 2015 in the housing market.

“I’m looking forward to 2015 because the Fannie Mae and Freddie Mac will be offering 3 percent down payment mortgages that will really help first-time homebuyers,” Gaskins said. “We’ve been told mortgage rates will go up but right now is a really great time to buy a house.”

In the Pee Dee market, the median sales price of homes rose to $134,000, up almost 2 percent more than in December of the previous year. The biggest drop was in pending home sales, 58 percent, with new listings also down slightly. Inventory increased to 1,448 units.

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