Report: Charleston's home prices increasing faster than national average
Local real estate figures have shown that thinning inventory and eager buyers are pushing up home prices in the Charleston region.
Now, a recent national report said the local gains are outpacing the state and national averages.
Area home prices increased by 11.2 percent in the 12 months ended in March, nearly a percentage point higher than the nation's average, according to the real estate information firm CoreLogic.
Home prices nationwide, including distressed sales, increased 10.5 percent in March compared with the same month in 2012, according to the Irvine, Calif.-based company's report.
In addition to outpacing the national average, the Charleston region's 11.2 percent growth for the 12-month span outpaced South Carolina's statewide 7.5 percent average.
The interplay between housing and job growth will be one of the topics of discussion at an all-day conference Friday.
The nonprofit Lowcountry Housing Trust is the organizer of the event, titled “Housing Matters: A Tri-County Housing Summit.”
The forum, which is being held at Trident Technical College's main campus in North Charleston, includes discussions about how to meet the region's housing and economic development needs.
The summit includes presentations by housing industry officials, service providers and elected leaders, including Charleston Mayor Joe Riley. The keynote speaker is Mitchell Silver, chief planning and development officer for the city of Raleigh and president of the American Planning Association.
The summit is free, but registration is required, and seating is limited. For details, go to lowcountryhousingtrust.org.
Reach Tyrone Richardson at 937-5550 and follow him on Twitter @tyrichardsonPC.