House Supply Overview U.S. pending home sales climbed to their highest level in nearly three years, rising 3.3% month-over-month, according to the National Association of REALTORS®. Economists polled by Reuters had forecast a 1.0% increase in contract signings. On a year-over-year basis, pending home sales advanced 2.6%, with both monthly and annual gains recorded across… Read more »
Read MoreHello REALTORS®, It’s a new year. Our cities, most of which held elections in November, have sworn in new officeholders and elected new leaders. I follow these changes each year, and I thought you might want to read a summary of the changes. Realtor Achievements Four Realtors recently took office: In addition, Realtor Allie Winter,… Read more »
Read MoreHello REALTORS®, It’s the New Year, and an important deadline looms for some property owners who may be eligible for relief from property taxes: January 31. Assessable Transfer of Interest The 25% assessable transfer of interest (ATI) exemption allows a taxpayer to reduce the property tax value of certain newly acquired property by as much… Read more »
Read MoreHello REALTORS®, Your Association of REALTORS® made a major commitment to government affairs over the last several years. NAR, SCR, and your Western Upstate Association of REALTORS® each devote considerable resources to help protect the interests of Realtors and property owners and help provide a level playing field for real estate activities. We did score… Read more »
Read MoreHousing Supply Overview Nationally, pending home sales rose 1.9% month-over-month, driven by gains in the Northeast, Midwest, and South, according to the National Association of REALTORS®. Economists polled by Reuters had forecast a 0.5% increase for the month. Year-over-year, pending sales were down 0.4%, with the Midwest and South reporting increases, while the Northeast and… Read more »
Read MoreHello REALTORS®, ‘Tis the Season…for business licenses at least. Most cities in South Carolina require a business license to conduct business in their city. Nearly all of them impose a business license tax as well. The tax is not insignificant. In fact, most cities receive a substantial portion of their revenue, sometimes as high as… Read more »
Read MoreHello REALTORS®, Now that the municipal elections are completed, our focus, and the focus of our local governments, returns to the evergreen subject of growth management. Annexation A recent wrinkle has been the tug of war between cities and counties over annexation. The City of Anderson, like many cities in the Western Upstate, has approved… Read more »
Read MoreHousing Supply Overview Although mortgage rates have edged down, U.S. pending home sales were unchanged from the previous month, with contract activity remaining 0.9% lower than a year ago, according to the National Association of REALTORS®. Contract signings increased both month-over-month and year-over-year in the Northeast and South, while the Midwest and West posted declines…. Read more »
Read MoreHello REALTORS®, I am about to finish my third year as your Director of Government Affairs. I have been reflecting on some of the trends and challenges your association’s government affairs team has faced, and I keep returning to one theme: housing. More precisely, the disconnect between our local governments’ housing and economic development policies…. Read more »
Read MoreHello REALTORS®, In October, I shared with you building permit data across the Upstate by county. Overall, annual building permits in 2024 were 7.5% more than 2020 and have leveled off after the crazy year—2021. In fact, it looks like 10,000 to 12,000 new housing starts across the six Upstate counties is the new normal,… Read more »
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