02 Jul Mortgage News Review for July
A lack of inventory is starting to affect the luxury home market in Charleston and surrounding areas. Here is more on this mortgage news story that we are watching:
Lack of Inventory is Now Affecting the High-end Home Market
If you are on the market for an upscale home in the Lowcountry, you may be out of luck. The housing market has been dealing with low inventory for some time. This is a result of a booming economy, a vibrant tourism industry and a growing airport, and now it’s affecting the luxury market. High-end homes can be found across the Charleston area. Many of the surrounding islands and areas along the coast are especially popular locations because of all the amenities they offer. Luxury homes in good condition and priced fairly go quickly on the market. Based on data from the Charleston Trident Association of Realtors, home sellers are receiving nearly 97% of the actual sales price.
With so much activity in the Carolinas, isn’t it time that you partnered with the best? Our service and communication are top-notch. At Fairway Independent Mortgage of the Carolinas, we treat your real estate customers like you do — with fairness and with their best interests at heart. They are our priority, as is closing loans quickly with no surprises. Let us change how you think about mortgages.
Wise, Warren L. “Luxury homes in short supply in Charleston’s hot real estate market.” Web blog post. The Post and Courier. 23 May 2018. Web 23 May 2018.