COLUMBIA, S.C. – September 14, 2012 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its August Statewide Market Reports, and it appears the South Carolina housing market is on the up-swing.
In comparing the numbers to August 2011, New Listings in South Carolina remained steady at 8,264, while Pending Sales were up 16.6 percent to 5,082. Inventory levels shrank 14.8 percent to 47,929 units. Prices moved higher. The Median Sales Price increased 4.0 percent to $155,000. Days on Market was down 4.2 percent to 129 days. The supply-demand balanced stabilized as Months Supply of Inventory was down 23.9 percent to 10.8 months.
With elections season in full swing, both politicians and economists will place extra emphasis on jobs and unemployment figures. Recognizing the relationships between jobs and housing demand, the most tuned-in agents and brokers will do the same. The truth is, the economy is and has been expanding consistently for years, albeit at a disjointed pace.
There’s reason for optimism going into the last third of 2012 and even into 2013, and housing is actually playing a large role in that positive outlook.
Statewide reports are attached. Please contact local boards for data by area. Questions about the statewide data? Contact Nick Kremydas at 803.772.5206.
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