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Charleston region among top places to move in Q2

Real Estate - Residential
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It’s no secret that the Charleston region has become a hot spot for people looking for a place to live, work and — most assuredly — play. A report by Attom Data Solutions shows that hasn’t changed in early 2018, even though the Holy City and the surrounding area isn’t No. 1 … yet.

The Charleston metro region is expected to be among the top places where homes are sold in the second quarter, according to Attom’s report.

Using data collected from purchase loan applications on residential real estate transactions, Attom created a pre-mover housing index based on the ratio of homes with a “pre-mover” flag to the total number of single-family homes in a given geography, indexed off of the national average. An index above 100 is above the national average and indicates an above-average ratio of homes that will likely be sold in the next three months.

The Charleston metro region has a pre-mover index of 198, the eighth-highest for metropolitan areas in the country. Colorado Springs, Colo., has the highest pre-mover index at 280.

Broken down by county, Charleston County has a pre-mover index of 162 and Berkeley County has a pre-mover index of 261. Data was not available for Dorchester County.

Across the state, Richland County has a pre-mover index of 179; Lexington County has an index of 173; Spartanburg County has an index of 171; Anderson County has an index of 145; and Greenville County has an index of 141.

Nationwide, Cleveland has the lowest pre-mover index at 46. The only Southeastern metropolitan area in the bottom 10 is Naples, Fla., with an index of 61.

“Markets with a high pre-mover index tend to be in areas where homes are still somewhat reasonably priced and have a growing job market, allowing for greater upward mobility,” said Daren Blomquist, Attom’s senior vice president, in a statement. “Markets with a low pre-mover index tend to be in areas with a struggling job market or with home prices that are out of reach for the average wage earner.”

Across the country, 3.2% of all homes with a pre-mover flag in the first quarter were being purchased as a second home. Myrtle Beach had the fourth-highest percentage in the country, with 17.2% of home with a pre-mover flag expected to be second homes.

Reach Patrick Hoff at 843-849-3144.

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