1 yr. home price change
: +6.3% Median home price
: $129,900 Unemployment rate
: 9.6% (6th highest)
South Carolina suffered relatively high unemployment during the recession, and it remains above the national average of 8.3%. The real estate market also suffered during that time. And despite the year-over-year 6.3% home price in July, it may continue to suffer. RealtyTrac reported that foreclosure starts rose 25% in July 2012 over July 2011. That puts it in the 10th spot among all states. The recent improvement in home prices is expected to be short-lived. Corelogic expects home prices to improve only 2.3% between the first quarter of 2013 and the first quarter of the following year, only the 38th highest rise among all states. Longer term, from the first quarter of this year to the first quarter of 2017, prices on an annualized basis are predicted to rise only 3.2%, which ranks it 27th among all states. South Carolina is one of several states 24/7 Wall St. found will only have a momentary housing price recovery.
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