South Carolina Housing Market Report (Fall 2009 Edition)
South Carolina REALTORS® (SCR) have partnered with the SC Homebuilders and the USC Moore School of Business to produce the quarterly South Carolina Housing Market Report.
The report provides on-going objective economic analysis focused exclusively on the home building and real estate industries in South Carolina. In addition to monthly sales data, SCR will now provide analysis of current national- and state-level economic conditions, how these conditions affect the housing industry, and what current conditions imply about the outlook for the housing industry.
"Research from the Fall 2009 South Carolina Housing Market found that:
- The South Carolina housing industry is doing well, compared to the rest of the nation;
- The recession is most likely over;
- The banking industry is just beginning to absorb the losses from defaulting commercial real estate loans, which will make future loans of all kinds harder to acquire;
- The high U.S. and South Carolina unemployment rate is expected to persist for the remainder of 2009 and into 2010.
- Additional foreclosures and increased housing vacancy rates are likely to accompany high unemployment."
---South Carolina REALTORS® CEO, Nick E. Kremydas
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