FLORENCE, S.C. — The number of housing sales rose in the Pee Dee in 2020.
The Pee Dee Realtor Association reported in late December that residential property sales increased by 7% in 2020, representing 2,642 homes sold compared to 2,463 in 2019.
The association credits several factors for the rise in the number of sales. Those factors include low interest rates − the Federal Reserve Open Market Committee lowered interest rates in March − a lower amount of inventory available and more demand due to people moving to the region and state.
There are indications that some companies and people are leaving states with higher taxes and more government regulation for states in the southeast with lower taxes and less government regulation.
Pam Jacobs, chief executive officer of the realtor association, also cited an increase in the number of people telecommuting as a factor in the increase in sales. She said that some people learned that their current living quarters were too small for them to be able to work and their children to attend school at home.
The association confirmed 108 new members, 28 more than in 2019.
The trend in the Pee Dee region mirrors that of the nation, according to data provided by the the National Association of Realtors.