The tri-county residential real estate market continues to hold its own compared to its peers throughout the Palmetto State.
A recent statewide report by South Carolina Realtors, a Columbia-based trade group, shows the Charleston region leads the state in volume of sales and fewest number of days for a home to sell.
This has been a recurring theme for the last several months.
The trade group's report shows that through the first five months of the year, the tri-county region had 5,042 home sales. That compared to 3,896 transactions in the Coastal Carolina region and 3,645 for Greater Greenville.
The report says the average home in the Charleston area was on the market 78 days from the time it was listed to the point of sale for the January-May period, seven fewer days from the year-earlier period.
The figure for Greenville was 90 days, down from 96 days last year.
Economists have been predicting that the Charleston and Greenville housing markets will be the strongest for South Carolina.
The Charleston region's foreclosure rate continues to decrease, but the local average remains higher than state and national figures, according to a new report.
Real estate information firm CoreLogic said last week that loans in foreclosure amounted to 1.94 percent of all outstanding mortgages in the Charleston-North Charleston-Summerville area in April. That's down more than a percentage point for the same month a year ago.
By comparison, the South Carolina and U.S. foreclosure rates averaged 1.75 percent and 1.77 percent, respectively, for April.
The group's report also showed the percentage of delinquent home loans continues to fall. About 4.37 percent of mortgages in the Charleston area were 90 days or more behind in April, down from 5.71 percent a year earlier.
Reach Tyrone Richardson at 937-5550 or twitter.com/tyrichardsonPC.
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