COLUMBIA, S.C. – January 15, 2012 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its December Statewide Market Reports, and it was largely a year of recovery for housing across our nation. Markets resolved to shed their excess weight, appeal to both existing homeowners and renters alike, and to learn to play nicer with banks. Three for three is not bad, but there’s more work to be done. Here’s how the final month of 2012 ended.
New Listings in South Carolina decreased 6.3 percent to 5,045. Pending Sales were up 11.9 percent to 3,416. Inventory levels shrank 13.1 percent to 44,112 units. Prices moved higher. The Median Sales Price increased 5.3 percent to $158,000. Days on Market was down 11.7 percent to 130 days. Absorption rates improved as Months Supply of Inventory was down 25.1 percent to 9.5 months.
Economic growth is on an upward trend and several prominent housing indices continue to showcase market turnaround. Momentum is on our side, though it won’t necessarily be fast, consistent or universal. But after five or six challenging years, it’s a welcomed change of pace. Plenty of opportunity lies ahead. Here’s to a healthy and prosperous year!
The release of SCR’s 2012 Annual Market Report and video is tentatively scheduled for Thursday, 1/17/13.
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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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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