Home buyers continue to hang back in South Carolina even as an economic turnaround is gaining strength.
Home sales plunged in every area of the state in November, putting half of the state on track to finish worse than in 2009, with the Columbia area in last place.
There are some positive signs in the Midlands: More people signed contracts to purchase homes in the coming months and – after months of decline – the number of new homes being built has leveled out. Read more
The number of homeowners in the U.S. who owe more on their properties than what those homes are worth has declined steadily for most of 2010, according to Santa Ana, Calif. research firm CoreLogic. But the drop in properties with negative equity has more to do with troubled borrowers losing their homes to foreclosure than an increase in prices. About 10.8 million, or 22.5% of residential properties with mortgages were in negative equity positions at the end of the third quarter. That is down from 11 million, or 23%, in the second quarter. Read more