Industry News

East Coast real estate markets falter

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More slowing occurred in East Coast real estate markets in October, as sales in South Carolina and Massachusetts continued to dwindle amid falling prices, according to Realtor associations in both states. Home sales in South Carolina fell for the fifth straight month in October, and the overall median home price dropped from both its September and year-ago levels, according to statistics provided by the South Carolina Association of Realtors. According to SCAR statistics, there were 5,135 home sales last month, down 9.8 percent from a year ago when 5,694 sales were recorded. Sales encompass single-family homes, condos and villas. Among the state's larger markets, the Coastal Carolinas region -- which includes Myrtle Beach, N. Myrtle Beach, Conway and Georgetown -- saw a 20.6 percent decline in sales last month from its year-ago level, followed by the Charleston Trident region where sales tumbled 13.4 percent during the period. The overall median price for single-family, condo an...