According to newspaper articles a housing glut and savy buyers has made it difficult to sell. Although March and April were very productive months, May and June have been really slow.
Investment home sales are down, Leaving an overstocked supply of homes for sale and driving down prices which sits well with second-home buyers.
On the Grand Strand, single-family home sales fell 28 percent in May compared to the year before, and condominiums fell 56 percent.
Although single family home sales remain flat, the Condo market is spiraling and has yet to hit bottom as speculators totally misread the signs that were indicating troubled times to come. Too much inventory with no one wanting to pay the prices driven upward by "investors" speculating that the final owner of the property would pay many times the actual value of the property.
OOps.... Can you say buy low baby?
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