Greenville on the Rise: One of the Fastest Growing Housing Markets
October 19, 2018
An article in USA TODAY a few weeks back was news to a majority of the country but not to us. “What are America’s fastest-growing (and shrinking) housing markets?” just echoed what we already knew: Greenville, SC, is on the rise. But now it’s official. A National Association of Realtors’ study showed our hometown to be one of the fastest growing housing markets in the country right now.According to the study, Greenville ranks #25 in the study of housing markets across the U.S. Ten years after the burst of the housing bubble, some cities have rebounded to a level where home values have exceeded the pre-Recession level. Many areas are still struggling and some are falling farther behind. Those that have survived and thrived reflect a strong economy, boosted from a vibrant job market and growing population. These stable markets have higher demand for housing, so in the law of supply and demand, the market value of homes increases.Greenville (which is grouped with Anderson and Mauldin as one housing market) posted a 9.8% in median home sale price over one year: rising from $197,400 in the second quarter of 2017 to $216,800 in the same period in 2018.July’s unemployment figure in the Greenville region was an impressive 3%, a number that has been consistently lower than the national average. NerdWallet cited Greenville as one of the “Best Places for Millennial Job Seekers in South Carolina”, citing low unemployment, good-paying jobs, and affordable housing. When you’ve lived in Greenville, SC, as long as most of the team here at Cothran Homes, you might take for granted all the benefits of this city and the surrounding region. Lucky for us, as a local homebuilder, we’re talking to homebuyers every day about things to do in the area, the quality of the schools, the convenience of the location, and the Southern lifestyle (and let’s not forget Greenville’s lively nightlife). Incidentally, Greenville was one of only six Southern cities that made the list, and the only one in South Carolina. So, if you’re looking for a new home in a vibrant market where you investment will grow, come to Greenville, and talk to us at Cothran Homes.