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Futur of Charleston SC Real Estate Market Bright!
Posted: 7:06 AM, Apr. 17, 2008
Posted: 7:06 AM, Apr. 17, 2008
Good morning! According to The Charleston Regional Business Journal, a regional firm that monitors the pulse of the real estate industry has long term confidence in the Charleston area housing market in spite of sagging home sales and a cloudy national economy. "If we were in some of these other markets, I think our forcast would be a lot different," said Bill Lattimore, chairman and chief executive of Coastal Market Graphics, an affiliate of MarketGraphics, a national real estate market research firm based in Nashville Tennessee. Before the downturn in the housing market, residential permit activity in the four-county area including Charleston, Berkeley, Dorchester, and Colleton tripled, Lattimore said. It doubled for the nine-county coastal Georgia region. "That is remarkable growth, said Lattimore, who predicts strong residential growth in the area during the next decade and beyond. "We know it's tough out there, but when we look at the next 20 years, when you look at the job growth and the baby boomers moving to this area, we are excited about being here in Charleston." Coastal MarketGraphics research found that inventories of residential real estate in the Charleston area were comparable in some cases lower than in cities of similar size in the region, including Memphis and Knoxville, Tenn. Cities in other regions, such as Detroit, Michigan had far more unsold inventory.
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