COLUMBIA, S.C. – July 15, 2011 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its June 2011 Market Reports. The rate of inventory absorption in the state of South Carolina slowed as Months Supply of Inventory was up 2.6 percent to 15.0 months. New Listings decreased 12.3 percent to 8,772 while Pending Sales were up 0.4 percent to 4,016. Inventory levels shrank 9.7 percent to 57,524 units, but even choosy buyers can still find top-notch homes.
Prices were more or less stable. The Median Sales Price increased 1.6 percent to $155,000. Days on Market increased 13.6 percent to 142 days. On the national front, the interest rite dropped to 4.79 percent on a 30-year fixed conventional and 4.44 percent for FHA. The unemployment rate has been stable around 9.0 percent and initial unemployment claims have continued to fall. Wages and payroll jobs also are slowly improving. Debt ceiling negotiations and other background noises persist, while prolonged job growth is still the missing verse in the recovery song.
June 2011 Statewide reports are attached. Please contact local boards for data by area. Contact Sharon Delia, SCR Communications Director, for archived reports.
Questions about the data? Contact Nick Kremydas at 803.772.5206
South Carolina REALTORS® (SCR) is the largest professional trade association in the state, serving 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®.