South Carolina REALTORS(R) release November housing market numbers

COLUMBIA, S.C. – December 16, 2013 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its November Statewide Market Reports. November was largely another encouraging month for residential sales. Attention has shifted from multiyear high prices and sales volumes to seller activity, inventory levels and building permits. Month-to-month activity moderates while year-over-year comparisons remain strong.

New Listings in South Carolina increased 2.5 percent to 6,819. Pending Sales were up 4.1 percent to 4,087. Inventory levels shrank 4.6 percent to 45,755 units. Prices moved higher and the Median Sales Price increased 5.3 percent to $157.900. Days on Market was down 13.8 percent to 114 days. Absorption rates improved as Months Supply of Inventory was down 17.6 percent to 8.6 months.

The economy is looking better and outperformed Wall Street expectations, as jobs increased by 204,000 in October. This is positive momentum that should support a housing recovery.

Please contact local boards for data by area. Questions about the attached 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 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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