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 : June 2012 National Housing Trends
Inventory Shortages Help Stabilize Home Prices During May, Latest HousingPulse Results Show
Widespread shortages in housing inventory have helped stabilize home prices in many parts of the country, according to the latest results of the monthly Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Average prices for home purchases were mixed from April to May, shown in transactions reported by HousingPulse survey respondents. The average price for non-distressed properties rose 1.7% from April to May, while the average price for short sales slipped 0.7%.
For damaged REO the average price increased 1.8% and for move-in ready REO the average price fell 1.5%.
A key factor in the stabilization of home prices is a shortage of inventory, especially in states that have experienced large price declines since 2006. Inventory shortages are caused by homeowners holding their homes off the market while hoping for a rebound in prices, and by homeowners that are underwater on their mortgage and effectively locked in place.
For the distressed property categories, a shortage of attractive inventory is caused by slow processing at mortgage servicers. Move-in ready REO properties are increasingly being snapped up, with an average time on market of just 10.6 weeks in May, the lowest of any property category.
“Inventory in Orange County CA is super low. During the top of the housing scare, the city that my office is located in had almost a 6 month supply of unsold homes. Currently it is down to just 45 days!” reported a real estate agent in California. Learn more about the June 2012 National Housing Trends.
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Sincerely,
"Carolina Joe" Idleman
http://www.charlestonscrealestateforsale.com
