Jump to Navigation
We can handle your closing anywhere in the state.
Subscribe to This Blog's Feed

Home prices grow in South Carolina as the economy improves

When you think about home prices rising quickly, where do you think that's the case? Maybe New York City or in Los Angeles, right? Surprisingly, home prices are rising the fastest in Colorado and South Carolina. Best of all, home prices in the United States have risen for the 37th month in a row in March 2015, showing that the economy is still turning around and becoming stronger.

Five states have had declines in their home values. These include Florida, Nevada, Rhode Island, Connecticut, and Arizona. With the sale of distressed properties included, five states with growing prices year over year include Colorado with a 9.2 percent increase, Kansas with an 8 percent increase, Nevada with a 7.6 percent increase, Texas with an 8 percent increase, and South Carolina with a 9.1 percent increase.

If you take away the sales of distressed sales, then you'll find that South Carolina is still in the top five for states with the largest increase in home pricing. Over the last 12 months, it has seen an increase in prices of 8.2 percent. What does that mean for you as a homeowner? Prices are continuing to grow, so your home could be increasing in value month over month.

This still may be a buyer's market if your house is not yet worth what it used to be, but soon you could find it has increased in value over your purchase price and the cost of your mortgage, making it a better time to sell. If you decide to sell your home or want to buy a new one, it's important to watch these trends to find the areas where you can get more for less.

Source: 24/7 Wall St., "Home Prices Rising Fastest in Colorado and South Carolina," Paul Ausick, accessed May. 27, 2015

No Comments

Leave a comment
Comment Information
Tell Us About Your Transaction

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Visit Weeks & Irvine at One of Our Six Locations

North Charleston office 8086-B Rivers Avenue
North Charleston, SC 29406
Phone: 843-553-9800
Toll Free: 800-553-7449
Fax: 843-553-9804
Maps and Directions

Mt. Pleasant office
1100 Queensborough Blvd, Suite 102
Mt. Pleasant, SC 29464
Phone: 843-856-9800
Toll Free: 800-553-7449
Fax: 843-216-0930
Map and Directions

Mt. Pleasant North office
3040 Highway 17-A North, Suite B
Mt. Pleasant, SC 29466
Phone: 843-388-3250
Toll Free: 800-553-7449
Map and Directions

West Ashley office
873 Orleans Road, Suite 102 1/2
Charleston, SC 29407
Phone: 843-571-2996
Toll Free: 800-553-7449
Fax: 843-571-2998
Map and Directions

Summerville office
106 West 7th North St
Summerville, SC 29483
Phone: 843-875-7111
Toll Free: 800-553-7449
Fax: 843-875-7721
Map and Directions

Goose Creek office
567 Crowfield Blvd.
Goose Creek, SC 29445
Phone: 843-553-9100
Toll Free: 800-553-7449
Fax 843-553-9183
Map and Directions