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Saturday, July 12, 2008 6:46 AM

Charleston home price update

A reader yesterday pointed out that my statistics were wrong. Apparently, he/she read in the Charleston Post and Courier that the median price of homes declined in June by 7.2% on a year over year basis from $215,000 in June of 2007 to $207,250 in June
Posted by Howard Arnoff | 2 Comments
Tuesday, July 08, 2008 6:21 AM

Real estate is local

I recently wrote a post stating that Case-Shiller is wrong . The point was that housing price declines were being overstated in the Case-Shiller index using only the 20 largest markets including many of the previously most overheated markets. Take a look
Posted by Howard Arnoff | 0 Comments
Friday, June 27, 2008 9:54 AM

Charleston real estate market report, Charleston home prices May 2008

Sometimes you just can't make stuff up. All the talk in the media is how home prices are dropping faster than a rock. And we're talking about a big rock, more like a boulder running downhill. Yet the Charleston real estate market continues to
Posted by Howard Arnoff | 0 Comments
Thursday, June 26, 2008 9:56 AM

Charleston real estate market report, Unit sales May 2008

Unit sales are very interesting to report this month, not because very much has changed since sales are generally at lower levels than previous years. But there is one classification in the Charleston real estate market where sales increased and not by
Posted by Howard Arnoff | 0 Comments
Thursday, June 26, 2008 9:18 AM

Charleston real estate report, Inventory and Absorption rate, May 2008

Inventory remains at high levels and is increasing once again across all housing classifications. Until inventory is reduced, there will be significant pressure on prices and buyers will continue to have a wide choice of properties to choose from. Please
Posted by Howard Arnoff | 0 Comments
Wednesday, June 25, 2008 3:47 PM

Charleston home prices

Amazing is about the only word I can use to describe Charleston home prices. After calculating the statistics, I had to double check my figures because I couldn't believe it when I noticed price increases since anecdotal evidence seemed to point toward
Posted by Howard Arnoff | 4 Comments
Wednesday, June 25, 2008 4:34 AM

Case-Shiller is wrong

... about the prices of homes. Take a look at this headline and read the story at MarketWatch . I would suggest that using the data from the 20 largest housing markets including the formerly most overheated markets in California, Florida, Phoenix and
Posted by Howard Arnoff | 1 Comments
Tuesday, June 24, 2008 1:00 PM

Charleston home sales and inventory

Inventory remains high throughout the Charleston real estate market and unit sales are still lower on a year over year basis. But the most surprising thing is that the median sales price did not decline and actually went up on a year over year basis.
Posted by Howard Arnoff | 6 Comments
Saturday, June 14, 2008 6:04 AM

Is a paradigm shift coming to housing because of rising oil prices

While the reasons Americans began to stay at home in reaction to the 9/11 attacks were different than choosing to stay at home rather than fill the gas tank of your car, truck or SUV up for $50 or $100, I think the home will become much more of a sanctuary
Posted by Howard Arnoff | 2 Comments
Thursday, June 05, 2008 6:54 AM

Inventory chart May 2008

Inventory of homes available for sale in the Charleston real estate market continues to increase. There is always a slight dip in available homes during the Thanksgiving to Xmas season for all the obvious reasons. But overall, inventory has increased
Posted by Howard Arnoff | 3 Comments
Monday, June 02, 2008 1:10 PM

Charleston real estate market report, April 2008 home prices

While anecdotal evidence continues to show downward pressure on home prices in the Charleston real estate market, the statistics haven't confirmed any sharp home price declines as yet. As always, I use a running 12 month average for the past 12 months
Posted by Howard Arnoff | 2 Comments
Monday, June 02, 2008 7:45 AM

Charleston real estate market report, April 2008 inventory and absorption rate

Inventory increased fairly significantly in the past month after holding steady for the past year. There is record high inventory for both single family homes and condos and townhomes under 600k. Statistics compiled by Howard Arnoff using the Charleston
Posted by Howard Arnoff | 0 Comments
Monday, June 02, 2008 7:36 AM

Charleston real estate market report, April 2008 unit sales

Unit sales remain at significantly lower levels. Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
Posted by Howard Arnoff | 0 Comments
Friday, May 30, 2008 3:43 PM

List (asking) price vs sales price May 2008

The asking price by sellers continues to be significantly higher than the prices paid by buyers. The only exception once again is in the luxury condo/townhome classification. It likely is one reason that the selling price is currently averaging over 5%
Posted by Howard Arnoff | 0 Comments
Thursday, May 29, 2008 2:51 PM

12 months of Charleston real estate prices

Despite declining unit sales and higher levels of inventory, Charleston real estate prices have remained persistently stable on both an average sale and median sale basis.
Posted by Howard Arnoff | 4 Comments
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