SC Housing Market Update
According to the University of South Carolina Moore School of Business:
“The South Carolina housing market has bounced back from its low point in 2009. Consecutive quarters of GDP growth suggest a recovering economy that will continue in 2010.
The housing market is adjusting to lower inventory levels. In the last six months, existing housing inventory for both new and re-sales have dropped four and two months, respectively. Thus, despite increases in foreclosures across the nation, states such as South Carolina with only small increases in delinquent mortgages are experiencing an overall decline in inventory. The reduction in supply is extremely important to the recovery of the housing market.”
This same trend is occurring on Hilton Head Island and in Bluffton. I’ve had several multiple offer situations – so be one of the smart buyers taking advantage of this great market before your choices are gone!
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