Current market conditions

Lots of bad press out there right now about how soft the real estate market is. Well, I just read some interesting statistics that support our feeling that there are plenty of buyers out there. In 2002, SC home sales set a new record at just over 43,000 homes sold. Over half of our metropolitan areas showed price gains over the previous year, with the median price at $152,000. At that time, homebuyers were confident that the real estate market was strong and healthy. In 2007, existing home sales are forecast to be close to 58,000, with the median price holding strong at $160,000. Both 2002 and 2007 show strong sales. 2006 was the third best year on record for real estate sales in South Carolina. 2007 will most likely rank as the sixth best year on record for sales.

So, there are plenty of buyers out there. The problem is that there are too many sellers and too many unmotivated sellers with overpriced listings. These simply need to come off the market. Realtors need to refuse to put overpriced listings on the market.