Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows.

Let’s use three maps to show how this theory continues to affect the residential real estate market.

Map #1 – State-by-state price appreciation reported by the Federal Housing Finance Agency (FHFA) for the first quarter of 2021 compared to the first quarter of 2020:

Price Appreciation

 

As the map shows, certain states (colored in red) have appreciated well…

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As the weather warms and pandemic restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. Robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. Nationwide, inventory remains much lower than it was at this time last year, and sales prices are surging as a result. 

Hilton Head & Mainland Real Estate Market Update - May 2021

For the 12- month period spanning June 2020 through May 2021, pending sales in the Hilton Head region were up 64.4 percent overall. Market-wide, inventory levels were down 73.1 percent. The property type that lost the least inventory was the condo segment, where it decreased 68.9 percent. That amounts to 0.8 months supply for…

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For generations, the process of buying and selling a home never really changed. A homeowner would try to estimate the market value of their house, then tack on a little extra to give themselves some negotiating room. That figure would become the listing price. Buyers would then try to determine how much less than the full price they could offer and still get the home. As a result, the listing price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than what was listed. It was unthinkable to pay more than what the seller was asking.

Today is different.

The record-low supply of homes for sale coupled with very strong buyer demand is leading to a rise in bidding wars on many homes. Because of…

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Are you clamoring for extra rooms or a more functional floorplan in your house? Maybe it’s time to make a move. If you’ll be able to work remotely for the long-term or your overall needs have simply changed, it’s a great time to sell your house and move up. Why? With mortgage rates in their favor and higher-priced home sales powering more moves across the country, sellers in today’s market are finding the space they need (and have always dreamed of) by purchasing a home in the upper end of the housing market.

With so few homes available for sale and high demand from today’s homebuyers, sellers are profiting in major ways this season. Bidding wars are gaining traction, driving up the sale price of more and more homes throughout the country. This means…

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This year, Americans are moving for a variety of reasons. The health crisis has truly reshaped our lifestyles and our needs. Spending so much more time in our current homes has driven many people to reconsider what homeownership means and what they find most valuable in their living spaces.

According to the 2020 Annual National Movers Study:

For customers who cited COVID-19 as an influence on their move in 2020, the top reasons associated with COVID-19 were concerns for personal and family health and wellbeing (60%); desires to be closer to family (59%); 57% moved due to changes in employment status or work arrangement (including the ability to work remotely); and 53% desired a lifestyle change or improvement of quality of life.

 

With a…

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Coastal living room designs are a popular style choice in the Lowcountry. If the ultra-popular farmhouse trend is not your style, odds are you might be drawn to the equally simple yet cozy aesthetic that’s known as coastal.

What’s great about coastal design is that it’s an elevated departure from the nautical style that could come to mind when thinking of waterfront interiors. It’s a perfect choice for capturing the laidback lifestyle of the Lowcountry that creates the feeling of relaxation as soon as you step in the room.

Perhaps the best part about coastal design style is that it welcomes color without ever feeling bold. You can create a classic and custom look without defaulting to all-white-everything or go anywhere near nautical with the red…

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Whether you live in the Lowcountry or are visiting our unique region, spending time taking in the natural beauty is a must. There are many things to do in Beaufort, but this article highlights the very best activities for nature lovers.

The Lowcountry offers everything from delicious food to historical sites and museums. What’s amazing is that nearly everything here centers on, or includes in some way, the natural surroundings. There is always an option to spend the day outdoors to bike a new path, picnic in a different park, visit a new beach, or tee off a new golf course. 

Whatever level of adventure you want this season, many Lowcountry summer activities are guaranteed to offer relaxation and fun. Check out some places we like to visit with…

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