Homes For Sale Mt Pleasant SC: Market Report
An often asked question of real estate professionals is “How is the market?”. The buying public wants to know if now is a good time to buy or sell. There are plenty of media outlets and talking heads reporting on the housing market, and the opinions can vary widely.
So, just what can you believe? Over my next few posts I want to give an overview of the housing market using cold, hard data from respected resources. I will explain what is going on in the market, why it is a good time to buy, why it is a good time to sell and some interesting factors that indicate the market is heading up. In fact, you will also see that we also have a lot of potential that may not get tapped into.
For this post, let’s just look at something simple: The Existing Sales Report. This graph shows existing homes sales broken down each month since last January through May of this year and looking at year-to-year sales comparisons.
As you can see, there was a drop in prices at the beginning of the year, but in May prices have risen sharply. A pretty good indication, right? Depending on who you ask, the market is doing well. There are some critics that say that while the market is on the uprise, it isn’t increasing as well as expected.
So how can this be? Well, looking month to month things are looking good and sales are increasing. However, some look at the fact that so far this year we aren’t matching the year-to-year sales we saw last year. However, that can be explained, which I will do in my next post.
Another interesting report I came across is from the S&P/Case-Shiller Home Price Indices from S&P Dow Jones. This is the leading measure for US home prices and is based on a 10 city and 20 city composites of some of the largest real estate markets across the US.
To sum up the report without getting too technical, this report indicates that prices are increasing month-to-month, but the year-to-year gains are lower. However, two big takeaways: First, things look good moving forward, but with cautious optimism: