News

Increase in FHA Guarantee Fees

The Federal Housing Finance Agency (FHFA) just announced that they will direct Fannie Mae and Freddie Mac (the Enterprises) to raise their guarantee fees (g-fees) on high-cost loans and 2nd homes starting April 2nd. The fee increases will not apply to the Enterprises’ products for low-down payment borrowers whose income is 100% or below of… Read more »

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November 2021 Market Reports

Housing Supply Overview As fall winds down and winter approaches, the real estate market continues to follow typical seasonality trends. After a year of recordsetting activity, homes are still selling quickly and at a steady pace, and strong demand and low inventory help ensure the market will remain competitive for some time to come. Although… Read more »

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Upstate broker Andy Lee presented with SC Realtor® Advocate Award

COLUMBIA, S.C. (December 7, 2021) — South Carolina REALTORS® (SCR) has awarded upstate broker in charge and owner,  William “Andy” Lee, of Lake Keowee Real Estate, with its Realtor® Advocate Award. The award was presented during the association’s gala event at Washington Place in Columbia. The Realtor® Advocate Award is given annually to a REALTOR®… Read more »

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October Monthly Market Reports

Housing Supply Overview Despite labor shortages and supply chain disruptions, new home construction continues along at a steady pace, with the latest data from the U.S. Department of Housing and Urban Development reporting new home sales rose 14% to a seasonally adjusted rate of 800,000 this fall. Strong demand for new housing can be seen… Read more »

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September Market Reports

Monthly Indicators Nationwide, existing home sales were down slightly in August, falling 2% after two consecutive months of increases, according to the National Association of REALTORS®. The decline in existing home sales coincides with rising sales prices, which have continued to soar into fall, with the median sales price of existing homes up 14.9% compared… Read more »

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August 2021 Market Reports

Housing Supply Overview With housing prices soaring and record-low inventory throughout much of the country, many prospective buyers have opted to rent for the time being, only to find conditions much the same in the rental market. Indeed, competition for rental properties is strong: the national median rent has increased 11.4% since January, and rent… Read more »

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July 2021 Market Reports

Housing Supply Overview After months of declines, the inventory of homes for sale nationwide is beginning to increase as more sellers come to the market, looking to capitalize on record-high sales prices while providing a much-need boost of supply to America’s epic housing shortage. This is encouraging news for home buyers, who have struggled with… Read more »

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SCR Update – August 3rd

From Nick Kremydas, CEO SC REALTORS As schools begin this week in some parts of the state, the latest covid news and CDC/DHEC recommendations are making me feel like I’m in the Groundhog Day movie, you know the one where Bill Murray keeps repeating the same day over and over again!   I have a few important… Read more »

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June 2021 Market Reports

Housing Supply Overview Summer’s here, and with vaccination rates on the rise, buyers continue to flood the market in search of their next home, with rock bottom inventory and record high sales prices reported throughout much of the country. Although closed sales were down nationally, overall demand for housing remains high, in part due to… Read more »

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Western Upstate Association of REALTORS Celebrates Home Ownership Month

Each year during the month of June, REALTORS across the country take the opportunity to celebrate homeownership by showcasing individual homeowners, government officials, and various programs that protect and promote the American Dream of homeownership. Homeownership Month was created both to encourage current and future homeowners to be advocates for homeownership and to ensure current… Read more »

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