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 : November 2012 National Housing Trends
First-Time Homebuyers Not Riding Wave Of Recovering Market, HousingPulse Findset
Despite growing signs that the housing market is starting to recover from the depression-like conditions of the past few years, first-time homebuyers don’t seem to be benefiting from that recovery.
According to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey results, the first-time homebuyer share of home purchases fell to 34.7% in October. That was not only down from the 37.1% share seen as recently as June, but also the lowest first-time homebuyer share ever recorded in the HousingPulse survey.
The decline in first-time homebuyers participating in the housing market comes at the same time that purchases of non-distressed properties have risen significantly this year. In fact, HousingPulse data show that the non-distressed property share of home purchases climbed to 64.7% in October. That was up from only 55.7% back in February and the highest non-distressed property share recorded by HousingPulse in its three-year history.
First-time homebuyers are the only group of buyers tracked by HousingPulse that have not seen their share of non-distressed property home purchases rise over the past five months. Current homeowners have seen the biggest jump in purchases of non-distressed properties with their share rising from 50.0% in June to 54.2% in October. Even investors saw their share of non-distressed property purchases inch higher from 11.3% to 12.2% over the past five months. Learn more about the November 2012 National Housing Trends here.
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"Carolina Joe" Idleman