An interesting article from Marketwatch on the housing bubble or lack thereof and perspective for 2007. The Charleston real estate market did not experience the huge increases of some of the really "hot" markets, unit sales will likely be off slightly this year, prices up a little bit and inventory is high. An interesting note on inventory is a significant portion of unsold inventory is in condominiums and I plan to break out condos from single family when I post the year end statistics.
Shelter in a storm
Housing market got buffeted in 2006, expected to stabilize in 2007
CHICAGO (MarketWatch) -- For many residential real-estate markets in the U.S., this year started with an advantage to sellers and ended with buyers holding the upper hand. But, unlike some people had expected, the switch didn't follow the deafening "pop" of a massive real estate bubble.
That spells good news for both buyers and sellers in 2007, as markets return to balance, prices moderate and, if interest rates remain subdued, sales begin to edge higher.