Dear , I spent several days last week analyzing a downtown project which gave me the opportunity to catch up with some of the key players in the downtown development game. There is great confidence in our downtown market right now and everyone wants a piece of it. This new round of activity will take pricing to a level that makes us feel more like a big city than a medium size market and making a good buy is almost impossible.
I hope you enjoy this month's newsletter and I hope you will forward it to your friends, family, and colleagues who may be thinking about buying a home in the Upstate. All my best, Keith (864-420-0262)
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June Market Update
The June numbers reflect more of the same that we've seen since 2012. The number of transactions year to date is up 10% with the median price rising more than 5%. I expect to see a little leveling off of demand during the second half of the year but with interest rates continuing to remain at historic lows the current trend may continue.
 1. Cumulative MLS Statistics
2. May MLS Statistics
3. Year to Date MLS Statistics
We at The Buyer's Broker believe the more you know, the more you will want The Buyer's Broker of Greenville to represent you in your next real estate transaction. |
 Mortgage rates have been slow to adjust to the 10-year Treasury yield, which has increased 12 basis points since last week. This week's survey shows the 30-year fixed rate inching up to 3.56 percent, only 2 basis points above last week's average. The low rates continue to be good news for the housing market, as existing home sales rose 1.8 percent to a 5.53 million seasonally adjusted annual rate in the month of May - the highest level since February 2007.
- 30-year fixed-rate mortgage (FRM) averaged 3.56 percent with an average 0.6 point for the week ending June 23, 2016, up from last week when it averaged 3.54 percent. A year ago at this time, the 30-year FRM averaged 4.02 percent.
- 15-year FRM this week averaged 2.83 percent with an average 0.5 point, up from last week when it averaged 2.81 percent. A year ago at this time, the 15-year FRM averaged 3.21 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.74 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 2.98. View the Survey
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 Plans for an expansive, signature park on the West Side of downtown Greenville are moving forward with the city's investment of nearly $575,000 to hire an Ohio firm that is sketching out a grand design. The park, envisioned along the Reedy River and Swamp Rabbit Trail, is in the early stages - but already the pressure of luxury housing spreading from downtown into an undeveloped, low-income area has mounted in anticipation. Developers have likened the wave of activity to "drinking out of a fire hose," Mayor Knox White said. "That's exciting, but it's also a little scary," he said. View the Greenville News Article!
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 Searching for homes online can be frustrating and time consuming. You can learn more about the Upstate real estate market in a phone conversation with me than you can learn surfing the internet for days, weeks, and months. If you would like to know exactly what the local market has to offer and the who, what, where, when, and why about purchasing a home in Greenville, call me today! |
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Hous e Plans Radio Show
Listen to me on the radio every Saturday morning on House Plans. "House Plans" airs live on WORD, 106.3 FM locally from 8:00AM until 9:00 AM. JD Nelson, Chris Roberts, (Countybank Mortgage) and I discuss local, state, and national real estate issues along with a variety of mortgage topics. The debate is lively and callers engage the hosts with local real estate questions. You'll learn all about the current real estate and mortgage market. Click Here to Listen a Recent Show |
