South Carolina apparently didn’t get the memo that the U.S. housing market was supposed to be struggling.
The latest June data shows that U.S. home sales dropped month-over-month and year-over-year, all while inventory increased. Meanwhile, South Carolina has been an outlier, with an increase in home sales and a slowdown in rising prices over the same period and longer.
But why is the Palmetto State performing better than the U.S. as a whole? Here’s a breakdown of the latest housing market data.
U.S. housing market
According to a June South Carolina Realtors report that cites U.S. Census data, U.S. sales of new single-family homes dropped 13.7% month-over-month and 6.3% year-over-year. The median sales price of a new home increased 3.7% from the previous month to $426,600…