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 : May 2015 National Housing Trends
Strong Springtime Market Continues, Including Increased Participation by First-Time Buyers
The strong spring home buying season continued in April, with increasing positive sentiments from agents, solid demand from first-time homebuyers and increasing sales-to-list price ratios for non-distressed properties, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Indexes tracking agent sentiment regarding time on market, the number of offers, closed transactions and sales prices all continued to improve in April, hitting levels last seen in 2013. Homebuyer traffic indexes appeared to be close to their seasonal peak, save for first-time homebuyers.
The first-time homebuyer share of home purchases has been particularly strong this spring, hitting a level in April not seen in more than four years. The activity was spurred in large part by a reduction in January to the cost of FHA mortgages. First-time homebuyers accounted for 37.6% of home purchases in April, up from a 34.3% share a year ago, based on a three-month moving average. The last time the first-time homebuyer share of home purchases was above 37.6% was in August 2010 when it was 40.0%.
While first-time homebuyer activity has been helped by a reduction in FHA premiums, the first-time homebuyer share of home purchases tends to peak each year in June or July, suggesting that the share could continue to climb. The demand from first-time homebuyers and others, coupled with limited supply, has helped to push up home prices, with some areas seeing prices close to 2006-2007 levels. Non-distressed properties sold in April had an average price of $275,000, up 4.6% from the end of 2014. Learn more about the May 2015 National Housing Trends here
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"Carolina Joe" Idleman