COLUMBIA, S.C. – October 15, 2012 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its September Statewide Market Reports.
In comparing the numbers to September 2011, New Listings in South Carolina increased 0.5 percent to 7,173, while Pending Sales were up 14.6 percent to 4,148. Inventory levels shrank 13.9 percent to 47,520 units. Prices gazed skyward. The Median Sales Price increased 4.3 percent to $154,000. Days on Market was down 11.3 percent to 126 days. The supply-demand balanced stabilized as Months Supply of Inventory was down 24.1 percent to 10.6 months.
Sluggish job growth, persistently high gas prices, drought-induced spikes in food prices and other global events could threaten consumer confidence. The Fed’s mortgage purchase drove Freddie Mac’s average 30-year-fixed-rate mortgage survey to an all-time low of 3.40 percent. Employment growth remains critical, providing the very jobs that will stimulate housing demand and higher prices as well as alleviate beleaguered homeowners.
South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for more than 14,000 members involved in all aspects of the residential and commercial real estate industries. REALTOR® is a registered trademark that identifies a professional in real estate who subscribes to a strict code of ethics as a member of SCR and the National Association of REALTORS®.
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