We wanted to share a recent Forbes article that is well-written and does a great job of explaining where the housing market is now, how we got here, and where it looks to be going. We’ve also included the local housing market forecast for Charleston South Carolina.
To summarize, we had a low inventory of homes before the pandemic and then the combination of increased demand and low interest rates have depleted inventory further. If you have been looking for homes over the last 6 months, you’ve seen the 15% or higher appreciation and how quickly homes are selling, but this rate seems to be at least slowing down a little over the last three months.
No one knows exactly how the market will behave, but this trend seems to be mostly driven by an
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