Every year we give thanks and it is very important to remember what we have to give thanks for. As far as Greenwood Real Estate is concerned it is no secret that we have been subject to a severe recession and a depressing and way too slow recovery. However, we are recovering and despite what the prognosticators say, America will be stronger than ever in the future. Every day we hear about the bad news coming from Europe and worry about how a meltdown there could pull us back into recession. To us, it only serves to remind us now much better off we are here as compared to the rest of the world. You don't see Americans leaving in droves. All the while the depressing news from Europe is just drowning out the news of our own recovery. That news is even more important than Europe. In the past two weeks just about every economic report released has been positive. This week it was retail sales, industrial production and housing permits. Continuing unemployment claims are now at the lowest level since 2008. Let's face it you would not know the news was good if you looked at the action in the stock market. Maybe it is time to consider investing in Lake Greenwood property while prices are low and inventory is high.
Recent reports from the broader economy have dispelled the story of a double-dip recession. An early reading of gross domestic product (GDP) showed 2.5 percent growth. Meanwhile, national job growth, a major driver of housing demand and price support, has recently strengthened. An increasingly impatient White House has rolled out phase two of the Home Affordable Refinance Program (HARP) for Fannie- and Freddie-backed mortgages. This should help a number of consumers as they write the next chapter.
On a more local note, the Greenwood Association of Realtors recently shared the following statistics: New Listings in the Greenwood region increased 9.1 percent to 84; pending sales were up 97.4 percent and inventory levels shrank 6.8 percent. Prices showed signs of life as well with the Median Sales Price increasing 26.0 percent even though the average days on market also had an increase of 15.7 percent. Add all this together and it seems that a change is coming for real estate for sale in Greenwood...and it's a good change!
Real estate is local! Every market is different but all in all the outlook is bright for Greenwood real estate. If owning lakefront property on Lake Greenwood is on your wish list act now to take full advantage of current market conditions before they begin to swing in another direction and make sure to give thanks for what we do have!
