Median Price of HomesSouth Carolina REALTORS® Release April Market Numbers
COLUMBIA, SC - November 15, 2012 - South Carolina REALTORS® (SCR) today released its October 2012 Statewide Market Reports.
It's been a comeback year for the housing market. As we round out the remaining two months of the year, let's recap. Most markets have shed listings, resulting from strong sales and sluggish seller activity. There has been a general easing of foreclosures and short sales, meaning distressed listings are dragging prices down less than in recent years. So it's both about market fundamentals and market composition.
In comparing the numbers to October 2011, New Listings in South Carolina increased 10.1 percent to 7,888, while Pending Sales were up 26.7 percent to 4,676. Inventory levels shrank 13.4 percent to 46,776 units. Prices were fairly stable. The Median Sales Price increased 0.1 percent to $149,900. Days on Market was down 10.8 percent to 131 days. Absorption rates improved as Months Supply of Inventory was down 24.7 percent to 10.2 months.
The economy is slowly growing and economic growth in 2013 is expected to outpace 2012. Mortgage rates are expected to remain near historic lows through 2015; rents are expected to rise due to low vacancy; and financial situations in Europe, China and elsewhere, believe it or not, have an effect on local markets.
Source: South Carolina Realtors
Columbia Unemployment Rate 2002 - present
May 2, 2012 - Unemployment rates were lower in March than a year earlier in 342 of the 372 metropolitan areas, higher in 16 areas, and unchanged in 14 areas, the U.S. Bureau of Labor Statistics reported today.
Thirteen areas recorded jobless rates of at least 15.0 percent, while 17 areas registered rates of less than 5.0 percent. Two hundred sixty-seven metropolitan areas reported over-the-year increases in nonfarm payroll employment, 96 reported decreases, and 9 had no change.
The national unemployment rate in March was 8.4 percent, not seasonally adjusted, down from 9.2 percent a year earlier.
Total Passengers at the Columbia Metropolitan Airport
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