New housing numbers show slump in western Upstate home sales - FOX Carolina 21

New housing numbers show slump in western Upstate home sales

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David Phillips has had this property on the market in Anderson for two months. (FOX Carolina) David Phillips has had this property on the market in Anderson for two months. (FOX Carolina)
ANDERSON, SC (FOX Carolina) -

Vacation and low inventory seem to be behind a slump in home sales numbers, according to local realtors. 

Across South Carolina, sales dropped by 5.1 percent in July, according to numbers by the South Carolina Realtors Association. July is typically a slow month, realtors say,  because people are busy taking vacations. 

Still, the numbers are lower than normal, according to statistics. In the western Upstate, including Pickens, Anderson and Oconee Counties, sales were down by nearly 6 percent. 

"One of the things that has really been hurting our market is that we don't have a lot of inventory for the demand," said David Phillips, realtor with Silver Star Real Estate, LLC. "There is building going on, but it's just not enough to keep up with it at this time," he added, citing growing population in those areas. 

Realtors in the greater Greenville area said Friday they are slammed, and home sales are increasing. 

Median home prices also dropped in the western Upstate, realtors said, by 5.1 percent since last July. Phillips attributes many of these factors to the election year and the uncertainty that comes from that. 

"People are unsure of what the candidates are gonna do, which candidates are gonna do what interest rates," he said. "Things like that always seem to affect a market."

A silver lining is that numbers show homes across the upstate are not staying on the market long, due to high demand. 

Phillips said he expects things to pick back up in 2017, but that this is still a great time to sell and to buy, especially while interest rates are low. 

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