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Housing Supply Overview Purchases of new single-family homes increased 7.2% month-over-month as of last measure, exceeding economists’ expectations and rising to the highest level in nearly a year, according to the US Census Bureau. The limited supply of existing homes on the market, along with lower mortgage interest rates, softening sales prices, and a rise… Read more »

Hello REALTORS®, As I have transitioned to an active advocacy role, I have been making the rounds of the various local government bodies to learn and understand them better.  In the last two months, I have attended governmental meetings in these jurisdictions: I also actively monitor all of the major jurisdictions where our members are… Read more »

Hello REALTORS®, In the last Watchdog Report, I reported on the position statement your Board of Directors approved.  Moratorium: The position paper on moratoriums was timely because Pickens County Council enacted its second moratorium in two years on February 6.  The moratorium prohibits applications for subdivisions of 50 lots or more and will last six… Read more »

Housing Supply Overview For the first time in a year, homebuilder confidence has increased, rising 4 points to 35 in January, according to the National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI). Elevated sales prices, coupled with a surge in mortgage rates, caused demand for new homes to plummet in… Read more »

Hello REALTORS®, Your Board of Directors approved position statements on four issues that relate to several public policy issues in the Western Upstate: Three of them will help your Grassroots Government Affairs Team advocate for REALTOR® interests right away. Short-Term Rentals: Anderson County Council and Walhalla City Council both have discussed short-term rental legislation recently. … Read more »

Hello REALTORS®, Local governments in the Western Upstate are ramping up their agendas, but I would like to focus this week’s report on the state level.  The South Carolina General Assembly convened for the 125th session on January 10. Your REALTORS® Association, led by SC REALTORS®, has adopted a legislative agenda for the first half… Read more »

Monthly Indicators 2022 was a turbulent year for the US housing market, as inflation, soaring interest rates, and elevated sales prices combined to cause a slowdown nationwide. Affordability challenges continue to limit market activity, with pending home sales and existing-home sales down month-over-month and falling 37.8% and 35.4% year-over-year, respectively, according to the National Association… Read more »

Hello REALTORS®, It’s a new year and I am trying out a new report—weekly if there is news to share—less often when things are slow.  I don’t expect it to be slow for the next four to five months.  I will highlight three to five issues each week, hopefully one each from the three counties… Read more »

Monthly Indicators Housing affordability continues to be a major roadblock for market participants, with mortgage rates more than double compared to this time last year. Buyers are delaying home purchases in hopes rates will drop, while many sellers are holding off on listing their homes due to weakening buyer demand, unwilling to trade in their… Read more »

Your Western Upstate REALTORS® Association government affairs staff learned this week that an obscure technical change made by the EPA earlier this year removed the exemption for property managers from the EPA’s Lead Safe Renovation, Repair and Painting Program. If you are a property manager and manage housing or a child-occupied property built before 1978,… Read more »