Looking at the recent report from RealtyTrac about home prices and comparing it to Upstate South Carolina. Plus much more…
65% of Real Estate Markets Worse in 2012 Compared to 2008
RealtyTrac recently released a report saying that 65% of the 919 counties they measured, the local housing market is worse now compared to 4 years ago. I was not sure if this report was meant to hurt Obama or if it is realistic. So let’s compare look at data from the WUAR MLS:
Well I still would question the accuracy of the data from Realtytrac. There is no doubt the real estate market in Upstate South Carolina is worse off compared to 4 years ago if we look at the data from the WUAR MLS. I am sure some people are saying well no $#!+ Sherlock. But for the delusional people that want to say my home appraised for X just a few years ago…well here you go!
September 2012 Unemployment Numbers for Upstate South Carolina
These are the numbers from the SC Department of Employment and Workforce so I leave it up to you as to how truly accurate they are:
South Carolina Ranked Number 2 for Business
You would think if South Carolina was chosen by Area Development magazine as the 2nd best state for business that our unemployment numbers would be lower? Anyway, Are Development said:
South Carolina second for its overall business environment and overall labor climate (tied) because of its competitive labor costs and leading work force development programs. This is a result of the state’s pro-active approach to building a ready and willing work force that provides the advanced skill sets companies need for their new operations. ReadySC, South Carolina’s work force development program, has trained more than 250,000 workers for nearly 2,000 companies.
Sounds great. Maybe 2013 is going to be a great year for South Carolina?
Do Fewer Distressed Properties Means Higher Prices?
The latest Campbell/Inside Mortgage Finance HousingPulse survey has several interesting tidbits. Such as:
- A decrease in the number of distressed properties is helping to boost home prices
- Uncertainty about the election may be causing some home buyers to delay taking any action
Buyers may be delaying their decision and end up paying more since home prices do seem to be rising. However, considering how serious a decision buying a home is, can you blame people for being cautious?
On the other hand, waiting too long may be just as bad since home prices and mortgage rates may continue to increase…