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Columbia South Carolina Housing Market Indicators | Understand what is to come !
Dated: June 20 2021
As the weather warms and pandemic restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. Robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. Nationwide, inventory remains much lower than it was at this time last year, and sales prices are surging as a result. New Listings were up 19.3 percent to 1,721. Pending Sales increased 11.1 percent to 1,697. Inventory shrank 56.2 percent to 995 units. Prices moved higher as Median Sales Price was up 12.5 percent to $225,050. Days on Market decreased 46.8 percent to 25 days. Months Supply of Inventory was down 63.2 percent to 0.7 months, indicating that demand increased relative to supply. With such limited supply of existing homes to purchase, all eyes are on home builders to provide a much-needed boost of inventory to the market to help meet buyer demand. However, increasing material and labor costs, along with supply chain challenges, have contributed to significantly higher construction costs, with builders passing these costs on to homebuyers. And while the warmer temperatures, rising sales prices, and the reopening of the economy may draw more sellers to the market, historically low levels of homes for sale are likely to continue for some time. Data provided by SC Association of Realtors and CMLS
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Columbia SC Housing Market Indicators Report. Real Estate data for Greater Columbia South Carolina comparing May 2020 to May 2021.As the weather warms and pandemic restrictions ease across much of
Going over the latest housing supply inventory report. If you would like a copy of this report then text me your email address. Text my direct cell at 803-807-1827.Do me a favor, like the video if