This year has been a good one for the real estate market across the U.S. and especially in South Carolina. Homeowners who bought when the market went crazy are just now realizing some equity in their homes. Here are a couple of stats from the CoreLogic Quarter 3 Equity Insights report.
• South Carolina has a 3.7% negative equity share when compared nationally.
• South Carolina has had an average equity gain of $8,095.
Frank Martell, President and CEO of CoreLogic says, “The number of homes in a negative equity position have remained around 2.2 million for two consecutive quarters this year.”
Frank Nothaft, Chief Economist at CoreLogic states, “On average, homeowners saw their home equity increase again this quarter but not nearly as much as in previous quarters. During the third quarter, homeowners gained an average of $12,400 compared to the second quarter when the average home equity wealth increase was more than $16,000. This lower year-over-year gain reflects the slowing in appreciation we’ve seen in the CoreLogic Home Price Index.”
If we refer back to my last article about the increasing Greenville SC economy, then we can assume that homeowner equity will continue to increase through the first quarter of next year. With the FED raising rates once again, homebuying may taper off a bit. With fewer buyers in the market, homeowners may be holding on to their homes a bit longer. We will see what 2019 brings.
Speaking of 2019, here are some places to celebrate New Year’s Eve at in Greenville, SC.
- at the
Hilton at 8:30pm. Prices: $75-$100
- at the Sip Whiskey and Wine Bar at 8pm. Prices: $50-$90.
- Rags to Riches New Year’s Eve Party at Gottrocks at 7pm. Prices: $15-$40.
- All Access NYE 2K19 at The Firmament at 8pm. Prices: $10-$60.
- New Year’s Eve Bash at Randomonium at 7pm. Prices: $7-$30.
- D&B 21+ New Year’s Eve Celebration
2019 at 9pm. Prices: $57.80-$80.50.
- at Revel at 7pm. Prices: $20-$1,000.
For a more complete list The Greenville News has a more detailed article online.
with selling or buying a home. Referrals and people needing are welcome!..