News & Government Affairs

South Carolina real estate market cooling off after busy summer

 

COLUMBIA, S.C. (September 20, 2021) -- South Carolina REALTORS® (SCR) today released its statewide real estate market reports. The reports reveal that the market is beginning to slightly cool off following a hotter than normal summer. 9,670 homes sold across South Carolina in August, a 0.2% drop compared to this time last year when 9,686 homes were sold. 

 

“The market is cooling down a little bit, but this is a typical trend following a busy summer when families are typically in a hurry to move before the school year begins,” said Morris Lyles, SCR 2021 president and Realtor® at ERA Wilder in Columbia.

 

Inventory fell by almost 42%, along with pending sales at 12% and days on market at 50%. Currently, there is 1.4 months’ worth of inventory in South Carolina, down almost 42% from a year ago. NAR reports nationwide inventory increased slightly over the summer. But even with renewed interest, it’s still down overall nationwide by almost 20%.

 

Of the homes sold throughout the state, the coastal areas had a slight decline in sales while Aiken saw the biggest increase at 12% compared to this time last year.

 

“I believe Aiken is attractive to many buyers because it has the warmth of a small town with a metropolitan feel. In our area, we have first-time home buyers, families who are trading in a starter home for something larger and many investors as well. The equestrian and luxury market is also thriving,” said Julie Whitesell, SCR parliamentarian and broker in charge of Meybohm in Aiken.

 

Statewide median sales price increased by almost 13% to $285,000. In 2020, the median sales price was $252,000. 

 

Up-to-date and archived reports are available at screaltors.org/marketreports.

 

https://nahbnow.com/2021/03/justice-department-statement-affirms-nahb-nationwide-win-on-eviction-moratorium/#:~:text=On%20March%2010,%20NAHB%20won,granted%20to%20it%20by%20Congress.&text=This%20means%20NAHB%20was%20acting,been%20impacted%20by%20the%20moratorium.

MAR 15, 2017

South Carolina added 7,100 construction jobs between January 2016 and January 2017, according to an analysis by the Associated General Contractors of America of U.S. Labor Department data.

The year-over 7.8% increase in jobs was the sixth largest gain among all states and the District of Columbia, the Arlington, Va.-based trade group said in a press release issued Monday.

Construction employment, though, declined by 100 jobs between December and January, the association said. At the end of January, 98,300 South Carolinians were working in the construction business.

Altogether, 38 states and D.C. added construction jobs between December and January, Association officials said that many firms report they are having a hard time finding enough qualified workers to hire as they work to keep pace with growing demand.

"Even as firms continue to find ways to expand their headcount, they are increasingly concerned about the lack of available, qualified workers," said Ken Simonson, chief economist for the association. "There is only so much firms can do to attract the limited number of qualified workers before labor shortages begin to impact their operations."

Association officials again urged federal leaders to act on a series of measures they outlined in recommendations to the Trump administration and Congress to bolster the supply of qualified workers even as they work to enact new measures to improve the nation's aging infrastructure. Those measures include boosting funding for career and technical education programs, making it easier for firms to set up regional training programs and making Pell grants eligible for career and community college programs.

"The growth in construction demand is outstripping the growth in the supply of qualified construction workers," Stephen E. Sandherr, chief executive officer for the association, said. "Federal officials have a great opportunity to attract and prepare even more people for high-paying careers in construction that will cut unemployment and boost the economy."

• By Ashley Heffernan

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MAR 16, 2017

Residential home sales and prices continued to rise in South Carolina during February, according to a monthly report from the S.C. Association of Realtors.

In February, 5,096 homes sold across the state at a median price of $180,000, which is a 1.9% increase in sales and a 7.5% increase in price from February 2016, the report said.

The Hilton Head area report the highest median price at $280,000, while Southern Midlands saw the lowest at $51,000, according to the report.

The number of new listings in the state rose 6.9% to 9,815 in February compared to February 2016, and the inventory of homes for sale declined 6.3% to 32,129 last month. That leaves a 4.8-month supply of inventory, the report said.

“A projected increase in interest rates coupled with continued inventory shortage could result in higher prices, thus impacting affordability in some areas,” association CEO Nick Kremydas said in the report.  

Homes stayed on the market an average of 102 days, which is down from 110 in February 2016. Homes sold the fastest at 68 days in the Greater Greenville area and the slowest at 255 days in Southern Midlands, the report said.

Residential real estate data for S.C. regions

Location	Homes sold Feb., 2016	Homes sold Feb. 2017	% change	Median price Feb. 2016	Median price Feb. 2017	% change
Aiken	135	152	+12.6%	$143,000	$160,600	+12.3%
Beaufort	150	138	-8.0%	$175,000	$179,500	+2.6%
Charleston Trident	1,100	1,265	+15.0%	$236,484	$240,500	+1.7%
Cherokee County	31	22	-29.0%	$40,000	$116,500	+191.3%
Coastal Carolinas	844	816	-3.3%	$156,217	$164,000	+5.0%
Greater Columbia	755	730	-3.3%	$150,000	$154,250	+2.8%
Greater Greenville	776	781	+0.6%	$165,375	$175,000	+5.8%
Greenwood	50	50	0.0%	$120,500	$118,496	-1.7%
Hilton Head Area	236	276	+16.9%	$290,000	$280,000	-3.4%
North Augusta	496	462	-6.9%	$155,850	$167,900	+7.7%
Pee Dee	133	143	+7.5%	$125,250	$137,000	+9.4%
Piedmont Regional	200	132	-34.0%	$144,900	$154,500	+6.6%
Southern Midlands	24	18	-25.0%	$107,875	$51,000	-52.7%
Spartanburg	282	259	-8.2%	$124,950	$145,000	+16.0%
Sumter/Clarendon County	103	102	-1.0%	$119,200	$139,500	+17.0%
Western Upstate	279	278	-0.4%	$136,575	$152,200	+11.4%
State totals	4,999	5,096	+1.9%	$167,417	$180,000	+7.5%

Source: S.C. Association of Realtors

Reach Ashley Heffernan at 843-849-3144.

SENATE

Wes Climer [R]
Financial Advisor
District 15 - York County
(H) P.O. Box 4898, Rock Hill 29732
      Bus. (803) 752-0052
(C) 604 Gressette Bldg., Columbia 29201
      Bus. (803) 212-6016

Mike Fanning [D]
Educator & Executive Director, Olde English Consortium
District 17 - Chester, Fairfield & York Counties
(H) 7825 Camp Welfare Road, Great Falls 29055
(C) 606 Gressette Bldg., Columbia 29201
      Bus. (803) 212-6024

 Chauncey K. Gregory [R]
President, Builders Supply Co.
District 16 - Lancaster & York Counties
(H) P.O. Box 1381, Lancaster 29721
      Bus. (803) 289-6211
(C) 512 Gressette Bldg., Columbia 29201
      Bus. (803) 212-6148

 Harvey S. Peeler, Jr. [R]
Dairyman & Businessman
District 14 - Cherokee, Spartanburg, Union & York Counties
(H) P.O. Box 742, Gaffney 29342
      Bus. (864) 489-9994      Home (864) 489-3766
(C) 213 Gressette Bldg., Columbia 29201
      Bus. (803) 212-6430

HOUSE

 F. Gregory "Greg" Delleney, Jr. [R]
Attorney, Hamilton, Delleney, Grier, & Cotten, LLC
District 43 - Chester & York Counties
(H) P.O. Drawer 808, Chester 29706
      Bus. (803) 581-2211      Home (803) 385-3580
(C) 512 Blatt Bldg., Columbia 29201
      Bus. (803) 734-3120

Brandon Michael Newton [R]
Staff, University of S.C. Lancaster
District 45 - Lancaster & York Counties
(H) 2003 Hickory Dr., Lancaster 29720
(C) 404D Blatt Bldg., Columbia 29201
      Bus. (803) 212-6874

J. Gary Simrill [R]
Businessman
District 46 - York County
(H) 1515 Alexander Rd., Rock Hill 29732
      Bus. (803) 366-0445      Home (803) 328-8089
(C) 518C Blatt Bldg., Columbia 29201
      Bus. (803) 734-3138

 Thomas E. "Tommy" Pope [R]
Attorney & Speaker Pro Tempore
District 47 - York County
(H) P.O. Box 471, York 29745
      Bus. (803) 324-7574
(C) 505 Blatt Bldg., Columbia 29201
      Bus. (803) 734-2701

Dist. No. 48 - York Co. VACANT

John Richard C. King [D]
Funeral Director & Owner, Christopher King's Funeral Home & Bail Bondsman
District 49 - York County
(H) P.O. Box 11555, Rock Hill 29731
      Home (803) 980-5454
(C) 309D Blatt Bldg., Columbia 29201
      Bus. (803) 212-6873

The HBA of York County proudly announces our newly elected board for 2017:

Chairman - Brian Jones (Cornerstone Builders Group)

President - Bo Ziegler (Adler Construction Services)

Vice President - Brian Jones (Cornerstone Builders Group)

Assoc. Vice President - Jeff Jones (Carter Lumber)

Secretary - Mike Palmer (MJ Palmer Construction)

Treasurer - Tena Cornwell (South State Bank)

Builder Directors - Kenny Childers (Cornerstone Builders Group)
                                    Scott Grigg (Waddell Homes)
                                    Brian Grissom (Carolina Homes Development)

Associate Directors - Tyler Barnes (The Building Center)
                                        Janet Gaglione (Northpointe Bank)
                                        Michael Carruth (York Co. Natural Gas)

As always committees are open for all. If you are interested in hearing about our committees and were you can help, please contact Lauren at 803-328-8460

January 22, 2016 Volume 2 Issue 21 Inside this issue ·       • Headlines ·       • Positive Bills ·       • Negative Bills ·       • HBASC Complete Legislative Tracking List ·       • NAHB Membership Advantage Discount Program     Headlines     Governor Haley Delivers State of the State Address Governor Haley spoke to a joint assembly of the House and Senate this week, and focused her speech on funding for education and infrastructure as well as domestic violence and legislative ethics reform.  Governor Haley gave her support for borrowing $200 million for repairs to K-12 schools across the state, and proposed to pay state college tuition for teachers who agree to spend eight years working in rural school districts.  The Governor also used her speech to reiterate she would veto any road bill that did not include a reduction of the state's income tax rates and restructuring at the Department of Transportation. On the issue of infrastructure funding, the Senate indicated the body will begin debate next Tuesday on an infrastructure funding bill.  There is no indication that the working group of senators has reached an agreement which could lead to an extended debate.   Top     Positive Bills     (Use links to see full text of each bill) S.165 - Automatic Stays (Similar to H.4011) Senator Greg Hembree to remove the automatic stay provision from statute.  Under current law, construction projects that have received the proper approvals and permits can be automatically stopped in order for individuals or groups to appeal those same permits.  This typically happens with projects that involve wetland mitigation and can force developers to pay more in mitigation fees than required by the formula determined by the US Army Corps of Engineers and SC DHEC.  This legislation would remove the automatic stay provision and allow construction to continue while any appeals are heard.  This bill was amended and approved in the Judiciary Committee.  It now goes to the Senate floor for further consideration. S.408 - State Procurement Code Senator Paul Campbell introduced a bill aimed at increasing the open competition for bidding in water and sewer projects.  This legislation could result in potential savings for local governments by allowing them to consider more cost effective materials to be used in these projects. This bill was referred to the Senate Finance Committee. S.522 - Coastal Tidelands and Wetlands (Similar to H.3797) Senator Sean Bennett introduced legislation to remove the portion of Dorchester County above the critical line from Coastal Zone.  This would significantly reduce the mitigation costs for economic development projects, and could lead to increased growth in Dorchester County.  This bill was referred to the Senate Agriculture and Natural Resources Committee. H.3490 - Business License Fees Representative Rick Quinn, along with Reps. Merrill, Rivers, and Atwater, introduced H.3490.  As we have mentioned before, this is one of the HBASC's top priorities this session.  The bill was introduced with 18 co-sponsors (Reps. Kennedy, Erickson, Tallon, Loftis, Taylor, Putnam, Goldfinch, Ballentine, Bedingfield, Finlay, Forrester, Hamilton, Herbkersman, Hicks, Huggins, Sandifer and Toole) representing all parts of the state.  We are very appreciative to Rep. Quinn and all of the co-sponsors for their passion on this issue which would lower the tax burden local government places on businesses.  As introduced, this legislation would create a centralized collection system under the SC Department of Revenue, and bring South Carolina into the 21st century by allowing online payment of these fees.  Additionally, the bill would change the payment structure from its current form.  Businesses would be required to pay the business license fee only in the jurisdiction where the company's state income tax return is address, and the fee is capped at $100 per business.  This would be a huge relief to businesses operating in multiple jurisdictions while also improving the ease of compliance.  The bill was referred to the House Ways and Means Committee. H.3682 - Patent Trolling Representative Kirkman Finaly filed this bill aimed at curbing patent trolling in South Carolina.  Many HBAs across the country are experiencing issues with "patent trolls" falsely claiming to hold a patent on common construction practices.  In many cases, a builder receives a letter claiming that a particular building method is infringing on a patent and unless the builder pays a license fee they will be sued by the "patent troll."  Most often, the builder will pay the license fee rather than go to court even though the patent claims are fabricated.  This bill is supported by a number of trade associations, including the SC Bankers, SC Realtors, and the HBASC.  The bill was approved by 87- 0 vote in the House Judiciary Committee, and is now in the Senate Judiciary Committee. H.3774 - Construction Careers Pathways Act Representative Samuel Rivers introduced a bill to provide additional opportunities for students interested in pursuing a career in the construction industry.  The legislation would allow collaboration amongst high schools, technical schools, and 4-year institutions.  It would also create curriculum and strategies to enhance learning and skill building.  The bill was referred to the House Education and Public Works Committee.   Top     Negative Bills     (Use links to see full text of each bill) S.18 - Home Owners Associations (Similar to S.13, H.3217, H.3248) Senator Jackson has filed this bill, as he has for a number of years, to address concerns with homeowners associations.  There are a number of similar bills which attempt to address these issues as well.  The HBASC is concerned these bills may attempt to force builder and developers to turn over control of the development before reaching 100% build-out.  This bill was referred to the Senate Judiciary Committee.  During the subcommittee hearing, Sen. Rankin amended the bill to authorize a new commission under the Department of Administration to study the issue and make recommendations to the General Assembly.  The bill was amended and passed by the Judiciary Committee; however, a minority report was placed on the bill.  This report would need to be removed before the legislation could receive a vote on the Senate floor. S.258 - Local Lobbying Registration Senator Thurmond has filed this bill, similar to legislation last session, to require registration of lobbyists at the local level.  The HBASC continues to have concerns with the unintended consequences this would have on HBA members and local associations. This bill was referred to the Senate Judiciary Committee.   Top     HBASC Complete Legislative Tracking List     The HBASC tracks a number of bills throughout the legislative session relating to a variety of topics.  For your convenience,  we have made a copy of the complete tracking list available.  The following highlights will be used to bring your attention to updates within the tracking list: Blue highlight = newly introduced bill Yellow highlight= changes to the status of a bill Green highlight = bill signed into law by the governor   Top     NAHB Membership Advantage Discount Program     HBASC members are eligable for discounts from GM, UPS, FTD, Office Depot, Wyndham Hotel, Hertz and more. Get all of the details online at www.nahb.org/MA.    Top

Upcoming Events March 15, 2016 46th Annual Bird Supper Columbia, SC Full HBASC Events Calendar         Follow us on Twitter @hbaofsc         Visit Our Website www.hbaofsc.com         Statehouse Resources Find Your Legislators www.scstatehouse.gov         HBASC Director of Government Affairs Matt Niehaus 625 Taylor Street, Suite A Columbia, SC 29201 (803) 771-7408

We needed this article two months ago to enlighten our county leadership and planning staff.  Wow!  What a great amount of information and should be publicized to everyone!  Check out this article posted in the Herald:

http://media.heraldonline.com/static/0816intersections/index.html

THE HBA FALL GOLF OUTING WILL BE THURSDAY, OCTOBER 1, 2015 AT SPRINGFIELD.  

It was necessary to change the date originally announced due to golf course conflicts.

Please watch your email for sponsor opportunities and sign-up sheets.  Please call the HBA office

with any questions.

Thank you

Water Heater Changes and Energy Compliance

Changes are in the works regarding size and installation requirements for many water heaters. These changes are the result of new federal energy-efficiency standards going into effect for those appliances manufactured after April 15. 

The changes will affect nearly all types of water heaters being produced, but the changes depend on the size of the water heater and what the manufacturer chooses to do. 

Smaller water heaters of 55 gallons and less, the most commonly used, may see an increase in size – perhaps 1-2 inches taller or wider – to account for the additional insulation necessary to make the higher efficiency. These increased dimensions may require additional installation clearances and may not work for closet installation replacements. 

However, some manufacturers may choose to adjust the capacity of some of their tanks to make sure they can still fit where the older models did, even if they hold 2-3 gallons less. 

The standards will have their biggest impact on the design and installation of gas and electric heaters larger than 55 gallons in capacity – about 10% of the residential water heater market. For these larger units, electric water heaters must use a heat-pump design and gas water heaters will need to be a condensing combustion type to meet the new efficiency requirements. You can read a more detailed explanation at nahb.org/waterheaters, and as NAHB learns more about the changes, the page will be updated. 

Manufacturers are now beginning to get the word out on impending changes. Your members should contact their sale representatives, suppliers or plumbing subcontractors to discuss the best solution for their projects. 

For additional information, contact Don Surrena at 800-368-5242 x8574.