Local market bucks trends, may provide clues to boost housing

Graphic credit Savannah Now 9.12.2011SavannahNow reports on a bright spot of the nations housing market that has benefited single family, modular, townhome and condo sales. Sales hit a four year high in Chatham, Bryan and Effingham county areas of South Carolina. 416 homes changed hands in August, the third month running this area has topped 400 closings here. What’s the reason? “We are a bright spot, a very bright spot, and it feels like we’re going to have a good September as well,” said Monica Spillane, president of the Savannah Area Board of Realtors. “People are finally getting the message that real estate is a local decision. It’s about what’s going on in town or in a particular area of town and not what’s going on across the state or the country.” Local companies are hiring in this market. “Gulfstream and the others are bringing in a lot of people, and while the newcomers love Savannah, they like the price point and the ease of access to I-95 out this way,” said LaTrelle Pevey, who owns ERA Adams-Pevey Real Estate. “Buyers are finding the price points and larger lots appealing.” The message seems to be if your local economy is doing well, tout that fact to attract home buyers, because it is the local economy that matters.


(Graphic Credit: Savannah Now)

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