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 : December 2014 National Housing Trends
Current Homeowners Dominate Housing Market, Distressed Property Share Down
Seven years after the start of the financial crisis, the housing market appears to be entering a new phase with a lower market share for both investors and distressed properties compared with recent years.
Investors accounted for 16.9% of home purchases in November, based on a three month moving average, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. That’s down from an 18.7% share in November 2013 and a 20.1% share in November 2012.
“Investors have all but disappeared,” according to an agent in California. “Purchase price versus rental income doesn’t make a lot of sense financially these days. And there are few ‘fix and flip’ opportunities left in our market.” Home purchase activity has shifted away from investors toward current homeowners. Current homeowners accounted for 48.1% of home purchases in November, up from a 46.5% share in November 2012.
The trends in homebuyer activity have been helped by a shift in the distressed property share and rising home prices. Real estate owned properties and short sales accounted for 22.9% of home sales in November, down from a 24.9% share in November 2013 and a 33.5% share in November 2012.
“Distressed inventory is shrinking,” said an agent in Indiana. “Prices are slightly going up and there are multiple offers practically on every distressed property.” Western states have the lowest proportions of distressed property. In California, 17.0% of properties sold in November were distressed. Areas with judicial foreclosure processes have a higher share of distressed properties. Learn more about the December 2014 National Housing Trends here
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"Carolina Joe" Idleman