Greenwood SC Real Estate Update for July
The verdict is in! Are you still sitting on the fence not sure if now is the time to buy Greenwood, SC real estate? It’s time to jump! Now is not the time to wait. Some of the best values are still here for the taking and prices are unbelievable! It’s happening right now….read on!
The National Association of Realtors® tell us that “home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year”. The Pending Home Sales Index rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. Keep in mind that this particular data reflects contracts and not closings, since closings typically occur 30-60 days after an offer is accepted. According to this we should see future reports with higher than usual numbers indicating a subsequently higher number of CLOSED transactions. This is the first time since April 2010 that contract activity was above year-ago levels, and the monthly gain was the strongest increase since last November when the index rose 10.6 percent. Lawrence Yun, NAR chief economist, said the improvement bodes well for home prices. We all know that absorption of inventory is imperative to market recovery and prices getting back to a normal level. “This solid gain in contract signings implies that home values in localities are or will soon be stabilizing as inventories get absorbed at a faster pace,” Yun said. “Some markets have made a rapid turnaround, going from soft activity to contract signings rising by more than 30 percent from a year ago” Yun added. Source: National Association of Realtors®.
Real Estate is local and every market is a little different. Real Estate in Greenwood, SC has been active lately. Having said that, there are still great deals waiting. For example, it’s a great time to consider buying a condo in Greenwood, SC as an income producing property with Lander University being here and college about to begin, or even a vacation home on Lake Greenwood. If you’ve been thinking about retirement options, consider building your dream home on Lake Greenwood. You definitely owe it to yourself to visit while lakefront lots are at the lowest they’ve been in many years! If you missed your opportunity the first time now’s your chance! The possibilities are endless and real estate is STILL a secure addition to any investment portfolio. Especially with a knowledgeable real estate group on your side.
