As real estate starts to rebound, it reinforces the important role it plays in the economy.
For every house sold in South Carolina, $53,000 is generated in to the economy, according to the National Association of Realtors. It won't be long before the housing recovery is simply referred to as housing.
In the Hilton Head Island/Bluffton area, closed transactions were up 19.7 percent in July compared to last year. Positive signs continue on the horizon with many pending transactions. Median sales price continues to inch up, with an overall median sales price up 7.1 percent to $244,000. Absorption rates improved as months of supply of inventory was down 29.1 percent to 7.7 months.
It is more than dollars and percentages to Realtors. It is the satisfaction of seeing a family move into a house and create a home. It is hearing the stories of families making memories with children and grandchildren. Homeownership is a value to our community. Realtors recognize that a viable community is a vital part of the buying process. In a recent member survey that asked, "where do you volunteer your time?" Members mentioned 58 different organizations.
As an association, Realtors work together on service projects in the community. This fall will be the third annual Realtors Helping Real People. With the support of Deep Well and Bluffton Self Help, Realtors will team together to make home improvements and repairs for families needing assistance.
If you are planning to sell or buy a property, it is important to work with a professional Realtor who cares about and knows the community. It's also important that your Realtor is a member of the Hilton Head Area Association of Realtors.