September brings us so many things to think about. The kiddos are back in school and we’re all adjusting to the new schedules, football is in full swing with locals sporting their favorite team colors everywhere you look, and a very important federally observed holiday…Labor Day. It’s more than just a long weekend, it’s proof of a monumental movement in our Country of the Brave. Wikipedia defines Labor Day as the celebration that “…honors the American labor movement and the contributions that workers have made to the strength, prosperity, laws and well-being of the country.”
I find it extremely fitting to recognize Labor Day associated with our changing Real Estate Market. Oh I’m sure you’ve heard things are starting to shift. There is definitely a transition in process. Right now we are seeing pattern changes which are leading indicators of more adjustments. We don’t know the extent of what to expect, but there are a few things to consider if you own a home here in Greenville, or if you are wanting to become a homeowner.
Maybe CoreLogic describes it best “The growth in sales is slowing down, and this is not due to lack of affordability, but rather a lack of inventory,” said Dr. Frank Nothaft, chief economist for CoreLogic. “As of Q2 2017, the unsold inventory as a share of all households is 1.9 percent, which is the lowest Q2 reading in over 30 years.”
Realtor.com reported “Builders just aren’t keeping up. Despite the lack of homes on the market making buyers ever more frazzled, the number of completed new homes dropped month-over-month in every region of the country—except one…The South, which is luring companies and new residents with its lower cost of living and more affordable housing prices.”
Hearing this totally makes sense. We not only have plenty of willing and able Buyers bottlenecked in Greenville, but we can likely anticipate more residents moving here as our job market continues to BOOM.
We have several new businesses coming to town daily, yet the inventory to offer these new settlers is quite low. Greenville Area Development Corporation just posted their 2017 2nd Quarter Capital Investment and Job Creation for Greenville, SC as of June 30th. They state that there are “11 local businesses that will be providing 1011 new jobs to fill”. That paints a pretty clear picture of the growth potential in our fabulous town, and the great need for housing.
If you have even remotely considered selling your home, I cannot emphasize enough the timing of your decision. There’s still time to get it sold quickly and for top value. But believe me, and all these related statistics, this too shall pass. Don’t have regrets…Don’t “wait and see”…Let’s get it on the Market while the Market still has some “HOT” left. Call me TODAY at 864-982-2272.♦
