Despite a national downturn in housing market sales, Charleston’s market remains relatively stable with an increased interest in rental properties, according to local realtors.

The National Realtors Association recently released a statement that the 5.5 percent increase in sales in September was derailed by a 4.6 percent slump in October, showing the housing climate’s uncertain future.

But local realtors that deal with rentals, permanent sales and both have claimed Charleston has been relatively untouched by the economic slump.

“We had an excellent October,” said Jan Eads, owner of Real Estate Unlimited in Charleston. “Home sales in the area have reflected well against a pretty dismal backdrop.”

Eads, who has been in the realty market for 34 years, has been part of a recession from 1979 to 1982, in which she saw the housing market slump.

“Having already been part of a recession, I don’t see how we can say this is another,” she said. “I think it is really too soon to tell, and we won’t know how we really are affected for a while.”

Reasons local realtors believe Charleston’s market has remained stable, naming the Eastern student population and employment as causes.

Because of the increase in enrollment during the years and steady employment for the Charleston residents through the university, rentals and sales have seen little disarray.

Sarah Bush Lincoln Health Center is also a contributing factors to employment in the area, said Eads.

“As long as employment remains stable in Charleston, with the help of Eastern and Sarah Bush, people will continue to buy houses,” she said.

However, the national figures have affected the rates of rental, which Campus Pointe and Carlyle Apartments realty groups have both expressed an increase.

“Generally, whenever there is a downturn in the real estate market, people start looking to rent,” said Christopher Underwood, property manager of Campus Pointe.

Because of the increased interest in rental property, Underwood said, Campus Pointe along with three other competitors, Carlyle Apartments, University Village and Unique Home rentals, raised rental rates for the leasing year of 2009. Underwood said that nationally the industry’s rates increased 6 percent last year.

He expects Campus Pointe and the surrounding competitors will have a 4 to 5 percent increase after this year.

Underwood and Patricia Franklin, of the management office for Carlyle Apartments, both urge students to begin signing early for 2009 leases, which generally range from nine months to two years if they are interested in off-campus living.

“There have been constant inquiries in the past month or so,” Franklin said. “And not just from students, we have every belief that our professional renters and larger family units will be leased as well.”

Though the local climate for housing remains stable, nationally remains a separate sphere.

The National Realtors Association urges that with the new administration that the housing market decline be the focus of economic revival. They have also cited the credit squeeze and other economic factors as contributors to the decline of “otherwise healthy market fundamentals,” as stated in a Nov. 8 news release.

Krystal Moya can be reached at 581-7945 or [email protected].