SC Realtors says market slowly improving
Mon, 24 Jan 2011 21:31:08 GMT —
COLUMBIA (WACH) - The last few years have been a nightmare for the real estate industry in South Carolina and beyond.
But industry leaders say there's a light at the end of the tunnel.
"As the economy improves, as the job market improves, we're going to slowly see unemployment numbers get better," says CEO of the South Carolina Realtors Association Nick Kremydas. "We'll see better numbers in our industry as well."
Ben Mabry has been trying to sell a home he owns in the Shandon area of Columbia for the past six months.
"This house is a bargain for somebody, I'd hate to sell it but I've got to move on."
Mabry says he lowered his asking price then put some money into a new kitchen, floors, and a roof before his luck changed.
"People like me have been waiting around for a good while, we're looking for ways to sell it." "Until recently there's been no interest and now boom, things are changing."
Kremydas says he expects the foreclosure rate in South Carolina to peak this year, although he thinks the market has finally bottomed out and things will start improving. He cites a small increase, 0.2 percent in closed transactions.
"Without question I think the market is improving," says Mabry. "I think people have more confidence."
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