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A Look At the
National Real Estate Statistics – June 2011
From Lexington, SC
By Dena Mixon, Realtor with EXIT Real Estate Consultants
July 8, 2011
From where I am, in the office of EXIT Real Estate Consultants (find out more about our office and the location!) in Lexington, SC, it appears that our local real estate has had a little flurry of activity! I and the other agents in my office have been busy in the month of June! Our listing and sales boards were filled! I am encouraged by the busyness (no pun intended!) and therefore I am sharing the statistics, both local and national, to encourage my South Carolina home buyers and home sellers! The more educated buyers and sellers we are, the BETTER buyers and sellers we are…and this can only help our SC Real Estate Market!
In the month of June 2011, the Lexington, Irmo, Columbia and all surrounding areas of SC (The Midlands of SC) saw 665 closed residential real estate sales (up from 586 closed real estate sales in May & 533 in April). There were another 1537 residential properties listed for sale in June also.
So yes, we have seen a slight increase in our real estate sales! But with a total of 11,288 properties for sale in our MLS today, it is definitely still a Buyers’ Market! And with interest rates as low as 4.5% for a 30 year fixed…it is a still GREAT, GREAT time to buy!!
Check out what the National Real Estate Stats are saying……
The National Association of Realtors – Home Price Monitor – June 2011
Highlights (See slide show with data charts below)
*Existing-home prices increased in April. Only new-home prices weakened a bit in the month. Over the year, home prices are down a bit, but the decline is smaller and almost nonexistent in the distressed-excluded data.
*Housing market activity is seasonal, so year-over-year comparisons are typically the most informative. However, the expiration of the tax credit one year ago makes year-over-year comparisons less informative than usual this period.
*Data continue to show that new homes have better price performance over the year; low levels of new construction and very little activity in the new-home sector should help maintain this trend though low sales levels also contribute to the substantial volatility in the data.
*Distressed sales, which hold back existing-home prices, continued to trend down. In May they were 31 percent of all sales.
*Data from the REALTORS® Confidence Index show that the share of distressed sales peaked in the first quarter of 2009 and 2010.
*April and May data suggest that this pattern will also hold in 2011, suggesting that price performance is likely to improve in the months ahead. Stable inventories coupled with the seasonal boost in sales activity will also help support prices.
*Affordability remains high, but continued job growth, confidence, and available financing are necessary for consumers to take advantage. Tight credit spurred by proposed QRM rule changes may hold future buyers back. Learn more about the QRM.
View the presentation below to see graphical representations and charts for:
Home price year-over-year change, 2001–2011
Monthly and annual home price changes, April 2011–May 2011
Spread of existing-home price changes, April 2007–April 2011
Supply and Demand Factors—Inventory
New Housing Starts and Permits—Supply
Job Growth and Hires—Underlying Demand
Potential Job Growth—Job Openings
My name is Dena Mixon and I would love to be your REALTOR! I am professionally trained and experienced in the state of