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SC Realtors Release 2014 Data

PALMETTO STATE HOUSING MARKET IMPROVES … BUT CONCERNS REMAIN || By FITSNEWS ||  Want to know everything there is to know about South Carolina’s housing market?  SC Realtors has got you covered … The industry association – one of the largest, most influential and most politically active special interest groups in…

PALMETTO STATE HOUSING MARKET IMPROVES … BUT CONCERNS REMAIN

|| By FITSNEWS ||  Want to know everything there is to know about South Carolina’s housing market?  SC Realtors has got you covered …

The industry association – one of the largest, most influential and most politically active special interest groups in the state – published its annual year-end report this week.

“Two steps forward, one step back,” the report concluded, citing improvement in sales prices and new listings – but cautioning against specific headwinds in the state’s “recovering” economy.

“Factors such as inadequate mortgage liquidity, stagnant wage growth and student loan debt have served as impediments to both first-time and move-up buyers,” the report concluded.

You don’t say … (wait … we’ve been saying all that.  Repeatedly).  Anyway …

“Closed sales increased 7.9 percent to 50,994 for the year,” the report found, marking the “sixth consecutive year of sales gains.”

That’s good news …

Homes also stayed on the market for shorter periods of time – 119 days compared to 149 days four years ago.  Sellers were also able to fetch higher prices – both in actual dollars and in terms of the percentage of listing price.

“Prices in most areas have enjoyed another year of gains,” the report found.  “The overall median sales price rose 3.3 percent to $160,000 for the year. Home prices should continue to rise in 2015 but perhaps at a tempered pace as the market approaches a natural balancing point.”

Again … that’s good news.  Assuming the economy holds.

If it doesn’t, though … next year’s report could be a bloodbath.

To view the 2014 data for yourself, click on the link below …

SC REALTORS YEAR-END REPORT (.pdf)

***

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47 comments

GrandTango January 27, 2015 at 10:16 am

FITS if you did not TELL US THAT before Nov. 2012…when it was MOST needed..STFU now…

Numbers may have begun to rebound a little in the last few months, because the corresponding month, the year before was HORRIBLE…

That is how we base progress now, in the Obama-economy…by not being quite as crappy as the year before…but still pretty D*#n crappy compared o Bush’s roraring economy…

If you want true economic improvement, you better Dump EVERY Democrat in power…ESPECIALLY in the White House…

Obama may have damaged the US economy more than any president before him…

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Jack January 27, 2015 at 11:26 am

Can you not read. This is the sixth consecutive year of gains.
God would probably let them go up even faster if Haley were praying to the right God. The Sikh god does not care about the Untied States.

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Rhetorical Questions January 27, 2015 at 11:53 am

Can he read? Do you really have to wonder?

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GrandTango January 27, 2015 at 11:57 am

Sixth Consecutive years of gains of WHAT???…

The housing market has been pretty much SICK for most of six years…

In 2012 and 2013…people began selling the huge backlog inventory – along with a historical number of foreclosures – and taking BIG losses…so there was some improvement comparatively, at least…

But the housing market has been horrendous under Obama…Why do you think the gov’t is still manipulating interest rates to such a degree, for so long? …If they did not, it would be even worse…

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Rocky January 27, 2015 at 1:08 pm

Reality check big guy – housing market imploded end of 2007 and early 2008 (actually started to slide late 2006) – last time I checked Obama was sworn into office in 2009. You must be thinking of someone else.

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GrandTango January 27, 2015 at 4:57 pm

If you don’t like History, you liberals simply write your own….LMAO…Hitler did that too, you know…

Rocky January 27, 2015 at 9:01 pm

Cant refute my facts once again – eh big guy. That’s OK. If I just lost $40K on a house sale because I wanted to be a right-wing myrtar – I’d probably be off getting drunk too.

Rocky January 27, 2015 at 11:26 am

Well, given the damage done by the prior guy – that’s a bit of stretch. Dontcha think? Shrill fool. I heard there’s a new restaurant coming to Crapville – Popeye’s Chicken or something. Those should be good jobs – eh?

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GrandTango January 27, 2015 at 11:53 am

It’s Bush’s FAULT???…LMAO…What a Dumb@$$….Hahahaha…

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Rocky January 27, 2015 at 1:09 pm

Truth sucks, eh? Must suck to be you?

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WousYa Bleve January 27, 2015 at 10:51 am

Yeah. Sure. Where’s the data.

Homes over a Bagillion were selling. Not anymore. Russia and China are taking they’re toys and going home. Hold On ;-)

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bzzedfartinsuglymum January 27, 2015 at 10:54 am

U.S. stocks slid in early trading Tuesday after several big-name companies reported disappointing earnings or weaker outlooks. A surprise drop Discouraging government reports on orders of long-lasting manufactured goods and home prices also weighed on the market. Technology stocks were among the biggest decliners.

KEEPING SCORE: The Dow Jones industrial average fell 286 points, or 1.6 percent, to 17,391 as of 10 a.m. Eastern time. The Standard & Poor’s 500 shed 26 points, or 1.3 percent, to 2,030. The Nasdaq composite slid 79 points, or 1.7 percent, to 4,691.

SECTOR VIEW: Nine of the 10 sectors in the S&P 500 declined, with technology stocks dropping the most. Utilities edged higher.

ROUGH QUARTER: Caterpillar’s stock fell 7 percent after the heavy equipment maker was hurt in the fourth quarter by restructuring costs and issued a weak outlook. The stock shed $6.12 to $79.91.

CURRENCY PAIN: Procter & Gamble fell 3 percent as the strong U.S. dollar cut into the consumer products maker’s second-quarter earnings. The company said that exchange rates will remain a challenge well into fiscal 2015, especially in the second half of its year. The stock slid $2.59 to $87.

ECONOMIC WORRIES: The Commerce Department reported that orders for long-lasting manufactured goods dropped 3.4 percent in December, dragged lower by a big decline in demand for commercial aircraft. There was also weakness in a number of areas, with demand for machinery, computer and primary metals all down. Economists had been forecasting a small increase for December.

http://hosted2.ap.org/OHLON/b4ef8d762d7447a4a1e4a2d2156054c1/Article_2015-01-27-Financial%20Markets/id-19a0cf7c9a3644e59db07c6ee6d7d6ed

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Rocky January 27, 2015 at 11:27 am

And tomorrow and Thursday they’ll be up 400 points, and another 150 on Friday. Yawn. Knee jerk – silly. But yeah, if it bugs you – why don’t you pull all your funds out of your 401K before “disaster.”

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GrandTango January 27, 2015 at 7:00 pm

The stock mkt. is the only thing that has not tanked…YET..because it’s being propped up w/ printed $…everything else is WEAK…and has been..

you look like a D*#n fool trying to convince anybody w/ any sense the stock mkt. means much to the millions suffering under Obama. We’re in an ECONOMIC mess….Liberals are MAJOR F*#k ups…

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Rocky January 27, 2015 at 9:00 pm

5.6% unemployment. Disaster.

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bzzedfartinsuglymum January 27, 2015 at 10:55 am

hey rocky…

HOME PRICES: A gauge of U.S. home values showed that home prices rose at a modest pace in November, held back by weaker sales and a limited number of available houses. The Standard & Poor’s/Case-Shiller 20-city home price index increased 4.3 percent in November from 12 months earlier. That’s down slightly from a 4.5 percent pace in October.

http://hosted2.ap.org/OHLON/b4ef8d762d7447a4a1e4a2d2156054c1/Article_2015-01-27-Financial%20Markets/id-19a0cf7c9a3644e59db07c6ee6d7d6ed

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Disqus January 27, 2015 at 11:01 am

Flip, your obsession with this Boz person is weird. Creating a new profile, then deleting it, but using the same profile picture when posting as a guest is weak, at best. I have your IP address already. It’s a familiar one, many of your profiles share it. Why the constant changes? You say the same stuff in the same way. Even GT (who has many profiles sharing the same IP, as well) just uses one handle these days.

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Rocky January 27, 2015 at 11:01 am

I would say 4-5% annual property increases are historically considered stable and good. 7-10% is considered unsustainable (see 2006 to 2010).
So overall was actually a good report. SC is still behind the rest of the country – in part because wages continue to suffer more here than in other states – except maybe MS – but we know how that goes.

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GrandTango January 27, 2015 at 11:33 am

How many homes sales are still at FIRE Sale prices???…When homeowners have lost as much as 30% value under Obama, regaining 4-5% is still devastating….

Again: W/O true job growth and wage increases, the claim of anything “stable and good” is government propaganda, and Bull-S#!*…

Get out and talk to people in business. They will tell you they just want to keep their heads above water…and hope the Democrats are completely jettisoned – federally- in 2016..Democrat-Media Rule is a DISASTER…

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Midlands Realtors January 27, 2015 at 11:45 am

The only homes listed for fire sale are the ones next to you in the ghetto, I’m afraid.

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GrandTango January 27, 2015 at 11:52 am

Realtors are some of the MOST DISHONEST merchants of information out there. The market is STILL miserable for sellers, but people are taking what the can get…because they have no option but to sell in many cases.

Pot Meets Kettle January 27, 2015 at 11:56 am

Realtors at least provide a valuable service to those in the home buying market. I’m not sure what market, if any, you are a benefit to.

GrandTango January 27, 2015 at 6:55 pm

A lot of very valuable people are not always honest…and the Obama-conomy has been so bad…good people cannot be honest about it…

Rocky January 27, 2015 at 1:04 pm

5.6% unemployment, wages starting to rise, low interest rates – sorry – housing market is full recovery.

GrandTango January 27, 2015 at 4:58 pm

Then will Obama give me back the $40,000, I just lost when I sold one of my houses?

Mobile Holmes January 27, 2015 at 6:28 pm

If you “lost $40K” it shows you’re a complete dumbass and fool of a seller. You should have waited for the Republican Rapture of ’16 and made a fortune…LMAO…

GrandTango January 27, 2015 at 6:42 pm

I was lucky not to lose more..you F*#king idiot…I could not wait around for a competent President and Congress to bring back America…because the Freaking property taxes on a non-primary house are so high…(thanks to LIBERAL leadership)….

Mobile Holmes January 27, 2015 at 6:47 pm

God, you’re so full of shit. Lose your job at The Columbia Star?

GrandTango January 27, 2015 at 6:53 pm

Liberals always seem to have trouble w/ reality…I think a lot of you live your lives through Coffee-House Chat groups..in under-developed existences…So many of you stay in grad school into your 30s and work in jobs that allow you to live in mythological worlds…

You definitely fit the profile of an out-of-touch and immature child…

Mobile Holmes January 27, 2015 at 6:59 pm

Haha…I hate coffee houses…but maybe I’ll buy one since they’re so cheap these days. ;)

GrandTango January 27, 2015 at 7:02 pm

OK..just replace Coffee House w/ Bath House…same difference….LMAO…

Mobile Holmes January 27, 2015 at 7:04 pm

What? I don’t care to see you and Flips little dicks…send in some real men’s.

Rocky January 27, 2015 at 8:58 pm

Those taxes would be from your own local liberal GOP leadership – right?

GrandTango January 28, 2015 at 6:21 am

An admittedly Liberal School Board…Dumb@$$…

Rocky January 27, 2015 at 8:58 pm

You shouldn’t have paid an inflated price. Now suddenly he’s responsible for your stupidity? Golly. Even I was smart enough to use my USC masters education in 2006 to realize it was retarded to buy property at that time. You like the free market – the free market just burned your ass. Must suck to be you! You shouldn’t have sold it stupid – you could probably still rent it for the monthly mortgage payment.

GrandTango January 28, 2015 at 6:24 am

How long have been hating and attacking special needs children, w/ crude and insulting language???…
If you learned anything in alleged Grad School, it should have been not to use low-brow unacceptable terms that insult children born w/ needs that require love, not hate from insensitive idiots and cretins, like you…..You low-brow Filth-Bag..

Rocky January 27, 2015 at 1:04 pm

That’s Crapville, please!

Rocky January 27, 2015 at 1:03 pm

Most of us do talk to real people. It’s just that we don’t live in Crapville, so we get different answers than you do.

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Yelsewh January 27, 2015 at 11:23 am

Enjoy this article, folks. It’s the closest thing to positive economic news you’ll ever see on this site.

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yomamasodumbandfat January 27, 2015 at 1:05 pm

Indeed. The sky continues to fall.

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erneba January 27, 2015 at 12:18 pm

The housing numbers look good. My only question would be concerning the credit qualifications for people buying some of these houses. I remember 2007 when anyone with a name and social security number could qualify for a mortgage. We don’t need to go thorough another round of mortgage defaults with people that were not qualified up front.

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Rocky January 27, 2015 at 1:07 pm

You need 660 to get a conforming conventional loan with 20% down, and if you want to only put down 5% and need PMI it’s 760. FHA is around 620 credit scores and holding steady, but you have to pay monthly mortgage insurance. VA is the only true sub-prime stuff around. None confirming loans are don’t exist right now.

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E Norma Scok January 27, 2015 at 1:44 pm

lulz..My neighbor just sold their house in 6 days, for about 15% more than they paid for it less than 2 years ago. Not bad with the sky falling and all.

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Rocky January 27, 2015 at 2:20 pm

Careful – Grand Wango will come back and call you a liar, demand to know the property address, the seller and the buyer, the mortgage company and the sellers Grandmother’s name.

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hack January 27, 2015 at 2:14 pm

“$160,000 median home sales price.” The average full time employee makes about $35-40k a year if they are lucky? On top of that they have about $30k + in student loan debt? Traditionally home affordability relies on about a 3:1 ratio of home price to wage earnings. Homes are clearly over priced only because the banks that sit on the mortgage paper would reveal their true insolvency if allowed to mark prices to actual “market.” Housing needs deflation like oil prices to recover, but costly regulations on business and lack of demand are keeping wages stagnant, and the bailouts were done to ensure the underlying collateral backing the MBS held by the banks would maintain their contract price. The market is not being allowed to be liquidated by the monetary central planners hence we have had our 7 years of depression.

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Realtors Are Scam Artist January 27, 2015 at 7:15 pm

….. and according to Zillow Dot Com maps, there are still a record high number of foreclosures in SC.

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Bible Thumper January 27, 2015 at 10:19 pm

I don’t care how stagnant wages are or how much student debt there is. South Carolina is one of the fastest growing states and many more are moving to it than away. 60,553 new people each year have to have somewhere to live.
SC has the 9th highest growth rate of all states at 1.27% (10th if DC is included) and is 9th highest numerical growth at 60,553.
http://www.census.gov/newsroom/press-releases/2014/cb14-232.html

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