26 Nov Mortgage News Review for November
The market is still growing in Charleston as home sales are slowing nationally.
Here is more on this mortgage news story:
Charleston Region is Still Experiencing Growth in Home Prices
Nationally, there has been a slowdown in price growth over the past several months. Some of this may be a result of higher interest rates. Another potential factor is that the number of homes on the market is growing, with a 1.3% increase from the same time last year. Locally in the Charleston area, the median home price increased 4% in October, up to $259,835. Looking at the year to date, the median home price has risen 6% compared with the same time last year. While the number of available homes rose last month, this is still considered a seller’s market. Prices in the popular Charleston region are continuing to increase even though sales are on par with the first 10 months of last year — an indication that home sales are flattening.
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Wise, Warren L. “Home price growth slows nationally, not here.” Web blog post. The Post and Courier. 24 November 2018. Web 24 November 2018.