MARKET UPDATE - August 2023

Higher mortgage rates, along with elevated sales prices and a lack of housing inventory, have continued to impact market activity during the summer homebuying season. The average 30-year fixed-rate mortgage has remained above 6.5% since May, recently hitting a two-decade high in August, according to Freddie Mac. As a result, existing-home sales have continued to slow nationwide, dropping 2.2% month-over-month as of last measure, with sales down 16.6% compared to the same time last year, according to the National Association of REALTORS® (NAR).

New Listings were up 17.1 percent to 616. Pending Sales decreased 8.6 percent to 478. Inventory grew 14.3 percent to 1,125 units.

Prices moved higher as Median Sales Price was up…

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Discover the Southern Charm: Beaufort, SC

In recent years, Beaufort, South Carolina, has been capturing the hearts and minds of people from all walks of life. This charming coastal town, nestled between Charleston and Savannah, is experiencing a surge in popularity, attracting both residents and visitors alike. From its rich history and stunning natural beauty to its vibrant community and thriving economy, Beaufort offers an irresistible combination that makes it a prime destination for those seeking a change of pace. In this article, we'll delve into the reasons why people are choosing Beaufort as their new home and why you might want to consider it too.

  1. Southern Hospitality and Charming Lifestyle

One of the most compelling reasons…

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