Inventory in the Charleston, SC area over the last year has the lowest that I have seen in the 12 years that I have been taking care of Buyers and Sellers. This article shares some potential theories...
Explaining today’s real estate inventory shortage: Consumer confidence and competitive market theories fall flat | Inman News
I have thought sometime that the First Time Home Buyer Credit could be at play since some Buyers who took advantage of that opportunity are nervous about the payback requirement so they are waiting to sell and buy again. I have also thought that since so many homeowners were underwater that they may have refinanced to a lower interest rate making them very comfortable in their home for awhile or that that some in that position may have taken advantage of a number of Federal programs allowing them to have a portion of their principle forgiven which may keep them in their homes longer.
One thing is for sure...there are far more buyers than sellers in some places in the Charleston SC area and that is impacting prices!
If I can help with any of your Real Estate needs in the Charleston area I hope that you will contact me at 843-442-2219 or you can visit my website Your Charleston SC Area Home to browse and get additional information. I would love to help you find your special place in this place that I have called home all of my life!
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