June continues promising real estate forecast

South Carolina REALTORS® (SCR) released its June market data reports showing that the Great Recession is being pushed further into the past.

New Listings were up four percent to 10,190 while Pending Sales increased four percent to 6,490. Inventory shrank by almost nine percent to 41,148 units.

Prices moved higher as Median Sales Price was up almost five percent to $182,000. Days on Market decreased six percent to 104 days.  Months Supply of Inventory was down almost 20 percent to seven months, the twelfth consecutive month of year-over-year declines.

With interest rates managing to remain low into the summer months, the outlook is promising, even if rates go up later in the year. Metrics like inventory and percent of list price received at sale are two of the better understudies to watch.

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