COLUMBIA, S.C. – July 13, 2016 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its June housing market reports. The data show an up-tick in sales and prices for most areas, while the number of homes for sale and total months supply of inventory have been going down.
New listings were up five percent to 10,455. Pending sales decreased six percent to 6,781. Inventory shrank by six to 36,784 units. Prices moved higher as median sales price was up five percent to $189,500. Homes are selling quickly with most on the market for only 96 days. Month’s supply of inventory was down twelve percent to almost six months, indicating that demand increased relative to supply.
“There is still a possibility of an interest rate hike this year. Now is the time to find a REALTOR® and take advantage of these record-low rates,” said SCR CEO Nick Kremydas.
South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for more than 18,000 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®.
CONTACT: Sharon Delia (803) 772-5206