MIAMI– A recent study about the places with the highest sales in the real estate industry revealed that South Carolina tops the list of states in the United States where the most properties have been acquired in 2023 in correlation to 100,000 inhabitants.
Florida is one of the highest in number of properties sold, but due to its large population, this translates to 73.59 sales per 100,000 residents. The median price is $404,939, above the national average.
In the southern state of South Carolina there have been an average of 77.30 home sales per 100,000 inhabitants. During the last month, 4,071 houses and apartments were sold with an average price of $301,659.
Arizona follows with 76.82 homes sold at a median price of $419,675. The figure is above the national average of $357,319 in the US.
With more than 8,000 homes sold, North Carolina has 75.74 sales per 100,000 residents at a median price of $329,634.
• Georgia ranks 10th with 60.46 home sales per 100,000 population
The United States has seen a rapid rise in mortgage rates that then fell somewhat in November 2022, meaning home purchases slowed for 13 months and the trend continues.
Sherman Oaks luxury real estate experts analyzed data from Zillow’s Home Value Index tool along with population data from World Population Review to find out what the market looks like in 2023.
Tennessee is fifth on this list with 72.53 sales and the median price is below the national average at $311,330 and Georgia is tenth with 60.46 home sales per 100,000 residents.
Sales of previously occupied homes They collapsed in May of this year, 20.4% compared to the same period of the previous year and the national average price registered its biggest annual fall in more than a decade to 396,000 dollars. But during 2022, monthly sales nosedive were -on average- above 11%.
In June, new home sales in the US fell more than expected, 2.5%. There were 432,000 newly built properties in existence.
The sale of used houses in the US suffered in December 2022 the biggest crash in 12 years: 34%. The data completed 11 consecutive months of plummeting, the longest streak of declining sales since 1999.
That same month there were 970,000 second-hand homes on the market, 10.2% higher than that registered in the same period of 2021, according to the news agency specializing in economic issues, Reuters.
The constant increases in interest rates, since March 2022, by the Federal Reserve led to a real estate recession that shows no sign of ending in the short or medium term; without the usual fuss by the big chains that try to avoid panic among investors and a worsening of the critical situation under the Democratic mandate.
Right now, the US Central Bank’s benchmark rate is at 5.25%-5.50% and is likely to reach 6% before the end of the year.
