South Carolina REALTORS® Release August Market Numbers

GREENVILLE, SC – September 16, 2013 – South Carolina REALTORS® (SCR) released its August Statewide Market Reports. Strong demand for a limited supply of homes for sale has seemingly outweighed higher mortgage rates, at least for the time being. The idea that mortgage rates may rise further is likely spurring some of this demand. The dream of homeownership is very much intact, but buyers should be prepared with competitive offers, since every measure of market health is pointing upwards.

New Listings in the state of South Carolina increased 5.9 percent to 8,982. Pending Sales were up 6.7 percent to 5,404. Inventory levels shrank 6.6 percent to 46,827 units.

Prices got a lift. The Median Sales Price increased 6.5 percent to $164,950. Days on Market was down 13.6 percent to 111 days. Absorption rates improved as Months Supply of Inventory was down 20.9 percent to 9.0 months.

Eyes continue to fixate on the Federal Reserve and its policy inclinations related to stimulus tapering. Labor market growth is positive but still tepid. Things like gas prices, stock market shifts and global economics have a tendency to sway consumer sentiment. At the moment, U.S. housing continues to be a bright spot.

Mouse over the interactive graph below for extra information. 

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