COLUMBIA, S.C. – June 19, 2012 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its May Statewide Market Reports.
Comparing the numbers to May 2011, New Listings in South Carolina decreased 17.5 percent to 7,250, while Pending Sales were down 5.2 percent to 4,327. Inventory levels shrank 16.4 percent to 49,308 units. The Median Sales Price increased 1.0 percent to $150,498 and Days on Market was down 0.6 percent to 141 days. The supply-demand balance stabilized as Months Supply of Inventory was down 23.1 percent to 11.7 percent.
In economic news, May’s jobs report was disappointing, and there’s concern about the pace of domestic growth. Last month was also unsettling for investors, prompting some to hunt for better returns in the housing market. This forces other consumers up the price ladder. In politics, the Senate approved a 60-day National Flood Insurance Protection extension. But with campaign season upon us, major housing-related bills or policy shifts are unlikely.
Statewide reports are attached. Please contact local boards for data by area. Questions about the statewide 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®.
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sharon (at) screaltors (dot) org