Beginning in September 2011, there has been a confidence-building increase in new home sales. While the fall and winter months are typically the “off-season” for the residential real estate market, this upward trend has continued through the end of the year. Sales in Acadia of homesites for custom homes and of Acadia’s affordable luxury townhomes have continued through the year-end. We see encouraging growth in Greenville County and South Carolina at large, too.
Existing home sales in the state increased by 3.4% in the fourth quarter of 2011, existing homes inventory has steadily dropped, and home prices are rising again. Greenville, SC home sales rose a respectable 7.6% in December. In addition, building permits in the Upstate have risen by 5.8%, after four years of decline. As economic conditions in general improve, builders and new home buyers are beginning to gain more confidence. It helps that mortgage rates are the lowest ever. Hopefully, this growth will continue throughout 2012 and into 2013 for our Acadia community and Greenville, SC.
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