Price Reductions and Increasing Inventory

Just the facts, in my opinion

In market news, we're FINALLY seeing price reductions and increasing inventory. Charleston gained 100 net homes in inventory for July and we saw a 25% decrease in sales over July 2020...the first decline year-over-year of 2021. If that trend continues for August, a month that is historically fairly slow due to going back to school, I feel confident that we will be looking at the end of the seller-controlled market. It may still take us many months to balance, but at least the rampant speculative pricing will end! At the end of the day, that's better for everyone.

As always, call me for any reason and I'll be happy to help!

- Thomas D.