Good News! Mt. Pleasant Housing is Now More Affordable!
For the first time since 2002, the Personal Income line and Median Sales Price line will intersect again this year, showing the effect that the softening of the real estate prices in Mt. Pleasant has had on home affordability: The green line shows the average percentage of household income that a household spends on housing - we are back to the level of affordability we had at the beginning of the century! This is good news for first-home buyers and for families who need to upsize their home! Peak inventory in Mt Pleasant happened back in July 2007, and, given that demand has decreased noticeably, housing is forecasted to remain affordable for a while - we still have a large inventory to go through!
Data: MLS Compilation: A. Roeger