[ad_1]
NAR reports pending home sales rose 2.5% in December
of National Real Estate Association announced a 2.5% increase in pending home sales in December compared to November figures.
Although the month-over-month numbers increased, the NAR found pending home sales down 38.8% since December 2022.
Here are the NAR’s December pending home sales numbers by region:
- Northeast – 6.5% decrease
- Midwest – 0.3% decrease
- South – 6.1% increase
- West – 6.4% increase
“The recent downturn in home sales activity is likely over,” said Lawrence Yun, chief economist at the NAR. The new normal for mortgage rates is likely to be in the 5.5% to 6.5% range Employment gains will become steadily more important in driving local home sales markets The South in particular is set to outperform the rest of the country, largely thanks to the better job market in this part of the country compared to other regions.
South Carolina ranks #1 for home sales
With the announcement of more jobs coming to South Carolina, people from all over the country are moving to the state, boosting local home sales.
South Carolina ranks first in the state, with 77.3 homes sold per 100,000 population, according to a Sherman Oaks realtor report.
The company analyzed data from Zillow’s Home Value Index Tool and population data from the World Population Review to find out what the market will look like in 2023.
Joining South Carolina on the list are:
- Arizona – 76.82
- North Carolina – 75.74
- Florida – 73.59
- Tennessee – 72.53
- Ohio – 65.77
- Oklahoma – 64.80
- Idaho – 64.46
- Arkansas – 61.05
- Georgia – 60.46
A Sherman Oaks realtor spokesperson said, “Real estate sales have been declining year-on-year, and this is due to a combination of inflation, rising mortgage rates and low wages.” “But seven of the top 10 states on this list, he said, have lower average home prices than the national average, making them more affordable, and as a result, he’s seeing higher sales per capita.” increase.”
Glen Spurlin Berkshire Hathaway HomeServices C. Dan Joined Realtors as a Sales Associate in the Midtown Office.
His background includes negotiating college housing contracts and teaching leadership development courses.
Spurlin is a graduate of Clemson University.
Kimberly Gilmour I joined Coldwell Banker Caine as a residential agent in their Greenville office.
[ad_2]
Source link
