Despite some choppy waters in August, there have been noteworthy shifts on both sides of the closing table. Buyer activity is moving back in line with historical trends while sellers are making fewer concessions in order to sell their homes. Falling supply and improving absorption rates in many regions also suggest that market balance is realigning towards neutral. Locally, a few indicators posted positive movement over August 2010, but do the rest of the numbers provide reason for optimism?
New Listings in the Charleston region decreased 24.2 percent to 1,262. Pending Sales were up 29.9 percent to 955. Inventory levels shrank 18.4 percent to 8,001 units, dampening any potential oversupply issues down the road.
Read more: Download the August 2011 Indicators (PDF)