South Carolina REALTORS® Release December Market Numbers
January 16, 2015
South Carolina REALTORS® (SCR) today released its December 2014 statewide housing market reports.
The South Carolina housing market ended the year with prices and inventory on the rise. Price gains are positive, but less robust than last year. As 2015 begins, the metrics to watch will be days on market, precent of list price received and absorption rates.
In South Carolina, New Listings were up 10.9 percent to 4,587. Pending Sales increased 17.0 percent to 3,028 and Inventory shrank 0.8 percent to 31,131 units. Prices moved higher as the Median Sales Price was up 1.9 percent to $163,000.
Days on Market decreased 5.7 percent to 115 days, the twelfth consecutive month of year-over-year declines. Months Supply of Inventory was down 8.8 percent to 7.3 months – the twelfth consecutive month of year-over-year declines.
Low interest rates, accelerating private job growth and the governments move on mortgage debt forgiveness and interest deduction preservation is credited with empowering consumers to buy homes. Student loan debt, sluggish wage growth and lack of sufficient mortgage liquidity remain hurdles to a greater recovery.
