The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Homes are truly unique. I look forward to helping you with any of your Charleston SC Homes For Sale needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Charleston SC Homes For Sale : March 2014 National Housing Trends
Investor Participation Slows as Housing Market Shifts to Most ‘Normal’ State Since 2009
The housing market appears to be getting back to “normal,” according to the latest results from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Investors are retreating from the home-purchase market due to higher home prices and the inventory of distressed properties is declining.
Investor traffic was flat in March compared with the previous month, reversing the trend of increasing investor traffic each March since 2011 as increased home prices appear to have limited appeal with investors. Investors accounted for 19.4% of home purchases in March, based on a three month moving average, about level compared with February. In March 2013, investors accounted for 22.1% of home purchases.
“Investors are looking for bargain properties for rental or flipping,” noted an agent in Virginia. “They are not seeing bargain-based foreclosures like they did a couple of years ago.”
The national average price for move-in ready REO in March was $208,000, based on a three month moving average, up from $171,000 in March 2012. The drop in investor activity has also prompted fewer offers on distressed properties in the past year. Damaged REO received 3.2 offers on average in March, based on a three month moving average, down from an average of 3.8 offers in March 2013.
The distressed property share of home sales also continued to dwindle, as 25.0% of properties sold in March were distressed, based on a three month moving average, down from a 35.8% share in March 2013. The lower supply appears to have played a factor in the home price trends for distressed properties.
Learn more about the March 2014 National Housing Trends here.
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Sincerely,
"Carolina Joe" Idleman
http://www.charlestonscrealestateforsale.com
