Two housing markets in South Carolina are among the easiest places in the U.S. to find a home based on available inventory, according to a new report.
Greater Charleston and the Greenville metro area in the Upstate are among realtor.com‘s top 20 markets to search for a new home.
Realtor.com ranked the Charleston-North Charleston area No. 7 with 21.7 listings per 1,000 households at a median list price of $422,500 in January.
Inventory dropped 13 percent since January 2019, and the price jumped 7 percent in the Lowcountry.
The Upstate region came in No. 20 with 16.4 listings per 1,000 households and a median list price of $268,700. Inventory in the Greenville area dipped 3 percent since January 2019 while prices edged up 2 percent.
The easiest market in the U.S. to find a home is Cape Coral-Fort Myers, Fla. It ranked No. 1 with nearly 38 listings per 1,000 households. The median list price in January was $325,045.
The toughest market in the U.S. to find a home is around San Jose, Calif. It offers four listings per 1,000 households with a median list price of $1.1 million.
“While the nation’s housing supply continues to hit new lows just in time for the spring home-buying season, local market differences remain, said Danielle Hale, chief economist at realtor.com.
“Although the toughest list is sprinkled with some of the markets you expect, others may be a surprise. They represent markets where housing is still affordable, but quality of life makes them attractive markets,especially for first-time buyers,” Hale said.
“We also found that ‘easiest’ doesn’t mean that a market is struggling,” she said. “Buyers searching in easier markets generally benefit from a combination of strong availability of homes for sale and, with some exceptions, healthy, yet more moderate price growth.”
Realtor.com compiled the list by looking at the density of home listings in each market relative to the available stock of owned homes in the area and compared that to the number of active listings in the market per 1,000 households during the fourth quarter of 2019.
Warren Wise, Post & Courier, March 7, 2020