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Home sales tumble in Columbia

Oct 15, 2010 12:18:00 PM - thestate.com
Home sales are still searching for a bottom as consumers have pulled back on big purchases after a federal tax credit for home buyers dried up this spring.

Sales plunged 30 percent in the third quarter in Columbia, putting the city on track for its worst year since before the real estate boom in the early part of the decade, according to industry data released today.

For homes that did sell, prices, held steady. Median price was up 2.4 percent for the quarter to $147,000 in the Columbia area.

Statewide, sales sank 17 percent for the quarter, with only the coast showing growth. The median price at which homes sold held steady at $151,900.

As consumers struggle with unemployment and fears of a double-dip recession, home sales have suffered most of the year. The exception was three months in the spring when the government made its final push for an $8,000 tax credit for first-time home buyers.

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