Charleston-area home sales tick up 3% in May after falling the previous 2 months

The rise in sales comes after a 3 percent decline in April and a 9.1 percent drop in March. Despite a full job market and robust economy, sales are down for the year by 2.4 percent.

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Pending home sales tick up from February but 7.9% below March 2013. falling short of 5.1 million sales last year, according to NAR’s forecast. Yun expects some improvement in the months ahead.

Economic Update for 10/18/14 DataQuick reported that the number of home sales in California rose for the first time in a year in September, as cooling prices and a strong economy encouraged buyers. The median sales price for new and existing houses and condominiums was $389,000 last month, down 1% from $393,000 in August but up 9.6% from $355,000 last September.

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Charleston-area home sales ticked up in May after falling the previous two months in what’s become an up-and-down year for the residential market in the Lowcountry. File/Warren L. Wise/Staff Facebook

The prolonged effects of tougher mortgage policies continued to make their mark on national home sales and prices in February, with the Canadian Real Estate Association’s latest report revealing the largest monthly decline in activity since the stress test was introduced last January.. Sales fell "sharply" by 9.1% from January, and are down 4.4% from the same month in 2018.

Residential home sales and prices continued to rise in South Carolina during February, according to a monthly report from the S.C. Association of Realtors.. In February, 5,096 homes sold across the state at a median price of $180,000, which is a 1.9% increase in sales and a 7.5% increase in price from February 2016, the report said.

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Charleston-area home sales tick up 3% in May after falling the previous 2 months – By Warren L. Wise Lower interest rates and warmer weather halted the slide in home sales in May around Charleston.

The slower annual growth was due to imports increasing by 1.3% after falling 2.0% back in Q4 2017. The 0.9% fall in government spending was also a drag since it rose by 0.4% back in Q4. And the same can be said of the weaker annual growth in private residential investment (+6.1% vs. +7.2% in Q4).