The Upstate SC Housing Market seems to be moving more to a balance between the sellers and buyers this June 2021. The early part of 2021 had a very lopsided market for real estate in the Upstate. Basically, the housing market was clearly a “Seller Market” in most areas of the Upstate. It was common to see many multiple bidding situations for many homes. It was only about a month ago today (May 5th), that there were only 47 homes under $250,000. (not counting mobile homes) available for sale in Anderson County. TODAY, there is 92 homes available on Realtor.com under $250,000. (not counting homes under contract). That is almost DOUBLE the available homes in just one month. That trend appears to be the case at other price ranges too. All GREAT news for any home buyer in Anderson SC.
Apparently, new mortgage loan applications are down are down this past week by 4% as per the Mortgage Bankers Association’s seasonally adjusted index. This is due to recent higher prices and less home inventory of the early part of 2021. This may lead to a more balanced housing market and some better purchasing opportunities. The good news is that mortgage rates are still very low. As per RateSaver Mortgage Inc www.RateSaverMortgage.com, the 15 year fixed rate with a score over 740 can be as low as 1.99% as of today’s date (APR=2.14%). The example given for that loan is a $360,000 purchase price, $250,000. loan amount and good credit (740+ score), with qualifying income and assets. A pretty great deal these days for home buyers. The Upstate SC Housing Market is looking much better as of late. The bottom line is, if you were frustrated as a buyer in early 2021, give it another try right now!!!
-Gary Schoenholz, www.GaryTheMortageExpert.com, 864-979-1111 cell
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