Acadia Rising! More New Homes for 2013

            In 2008, the future of the housing market and the economy at-large looked grim.  The country gritted its teeth and prepared to fight a long, up-hill battle just to get back to par.  However, improvements made in 2012 have been encouraging, exceeding most expectations.  Nationwide, total home sales have increased by 6%, while home prices have risen by 7.5%.  While a price increase might not seem like a good thing, the lower prices over the past several years were largely due to the toxic mortgage bubble bursting, fueling the country’s economic woes.  The surge of defaulted homes gave banks a surplus, and the country simple couldn’t afford to quickly correct the over-supply problem.  Needless to say, a housing market centered on defaults and bank re-sales is not a stable one.  Fortunately, this unhealthy surplus has been steadily dropping.   Over the past year alone, the sale of bank-owned homes has fallen by over 20%.  The decrease of an unnecessarily large inventory has allowed homeowners and realtors to bring prices up to a more optimal level. 

            If the national housing market’s gains in the past year were somewhat unexpected, the gains made in Upstate South Carolina have been pleasantly shocking.  After a 16% increase in housing sales from 2011 to 2012, we have seen a 25.4% year-over-year increase in December, usually the slowest time of the year for home sales.  For the past few years, the Upstate’s economy has been one of the healthiest, fastest growing economies in the country, so the housing market was predicted to improve in kind. 

            This rising demand from buyers has exceeded all expectations, creating a seller’s market in the Greenville, SC area.  In Acadia, our community is gaining from the same momentum.  In the first weeks of 2013, Acadia has already booked 6 new home starts, with more prospects in the wings.  Compared to 2012, a good year of renewed growth for Acadia, this year 2013 should see many more rooftops rising in Acadia.  Come Discover Life in Balance in Acadia.  www.AcadiaSC.com.

Copyright © 2015 | Acadia, LLC