South Carolina REALTORS® Release March Market Numbers

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COLUMBIA, S.C. – April 15, 2013 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its March Statewide Market Reports showing that tightened inventory levels combined with strong demand are fueling price gains in many areas. Consumer demand also is shifting from distressed properties to conventional homes and record-low mortgage rates and rising rents are supporting housing recovery.

New Listings in South Carolina increased 3.4 percent to 9,985. Pending Sales were up 8.3 percent to 5,754. Inventory levels shrank 10.1 percent to 46,336 units. Prices moved higher and the Median Sales Price increased 4.6 percent to $151,600. Days on Market was down 8.4 percent to 128 days. Absorption rates improved as Months Supply of Inventory was down 22.6 percent to 9.6 months.

Things inched forward on the economic front with a minor but important upward revision to 2012 fourth quarter GDP growth, which put us in a positive area.

Please contact local boards for data by area. Questions about the attached statewide data? Contact Nick Kremydas at 803.772.5206.

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. This email and any files sent with it are confidential. If you have received this email in error, please notify the sender and then delete it immediately.

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