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As tax credit ends, S.C. home sales slide

Aug 17, 2010 10:37:00 AM - thestate.com
Home sales slipped in July, statewide and in Columbia, as a fledgling economic recovery was called into question and a federal tax credit largely ended.

Sales sunk 32 percent in Columbia from last July and 23 percent statewide despite record-low mortgage interest rates, according to a report from the S.C. Realtors trade group.

A federal tax credit that was set to end in June for those who already had homes under contract was extended, but with little effect on the market as unemployment levels still linger near record highs.

Home prices were a silver lining in an otherwise bleak report. Median prices for homes that sold in July held steady in Columbia at $150,000 and statewide at $155,000.