According to the Charleston Business Journal September was a good month in residential home sales. However, the prices continue its downward slide. With foreclosures up 11% I am sure that is contributing to the lower price of homes. South Carolina ranks 24th in foreclosures in the nation. Short Sales are also affecting the price of homes. This trend is expected to continue through out 2010 and possibly into 2011.

Historically low interest rates and the decrease in prices continue to produce a buyer’s market even though the $8,000 tax credit will expire on November 30th.