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S.C., Columbia home sales continue to fall

Sep 15, 2010 9:14:00 AM - thestate.com
Despite a boost earlier this year from a federal tax credit, home sales in Columbia are on target for their worst year in recent memory.

After a steady start to the year, area sales ballooned 23 percent in the second quarter as first-time home buyers rushed to beat the June deadline for an $8,000 federal tax credit.

But when the credit ended, sales tumbled 28 percent in July compared to a year earlier and fell another 27 percent in August, according to a new report from the S.C. Realtors trade group.

Sales so far this year are down slightly from last year’s numbers.

But without the tax credit in place, many industry professionals are worried that sales will continue to plummet.

USA, South Carolina: (Latest Stories)