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As you know the residential market went through a low until about 2010 and it has been recovering ever since. And we have had a pretty good year in the last 12 months in Mount Pleasant, SC with inventory going down substantially and demand rising and prices are actually going up (with only 3 and a half months inventory in terms of absorption). However, there are a couple of things that may slow down our market growth. One is the unusual growth in inventory - normally after June/July inventory starts decreasing until the end of the year. This year it was a little bit unusual it started increasing again in the past 2 months (as of the end of September). The other thing that might put a little damper on our explosive HOT market is the re-pricing of flood insurance by FEMA. FEMA has decided not to subsidize flood insurance nationwide and as a consequence our flood insurance prices will go up all over the coastal areas. However, there are a lot of opportunities out there - a lot of new construction projects being built, prices are going up, and people are finding that if they price their home right it will sell in a matter of a few days for a good price.
For a more detailed analysis of the market please click here.
To learn how the market trends are going to effect the value of your home contact us at 843- 900-0155 or firstname.lastname@example.org. We are a team of Market Experts!
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