What You Should Know About the Greenville, SC Housing Market

If you've been looking to make the move to Greenville and purchase a home, now's the time to do it. Greenville and the Upstate have experienced rapid growth over the past 10 years, with roughly 400,000 people relocating to the region since 2010.

With interest rates rising as the government moves to combat inflation fears, you might be wondering if now is still a good time to purchase a house in Greenville. The truth is, if you're interested in living in Park City, you'll want to jump on a house as soon as you find the rig

ht one for your needs. Here's why it's still a great time to buy.

The Market Isn't Slowing Here

Remember, around 40,000 people a year have moved to Greenville, Spartanburg and other towns in the Upstate over the past decade. Much of that growth was before the explosion in the housing market, which means the market is likely to remain strong.

The things that attracted people to Greenville, such as low costs of living, great restaurants and a beautiful downtown, are still as popular as ever. Meanwhile, when people do leave Greenville, they're usually not leaving the Upstate. People who leave Greenville tend to go to Spartanburg, Anderson or another nearby city so they can still enjoy all that Greenville offers while being closer to their jobs. 

And the Upstate residents who don't have to worry about commuting now that they work from home are choosing to stay in Greenville. That's kept home prices fairly strong here, and it's a trend that won't change anytime soon. If you see your ideal home come on the market, now's the time to lock in your price.

Interest Rates Are Stabilizing

Last month was a strong one for the economy, as inflation rates were near zero. That isn't going to convince the federal government to pull back entirely on raising interest rates, but it might cause it to be a little less heavy-handed with increasing rates. As long as the economy continues to make progress, the government isn't going to push interest rates up, preferring to help Americans recover from the difficult years of 2020 and 2021. 

Interest rates are still quite low compared to where they were a generation ago, so now's a great time to get capital and make a down payment on a house. Rates might not rise in 2022, but in future years, there might not be a choice. Now's the time to lock in a rate.

Greenville's Still a Great Place to Live

Greenville remains committed to preserving its small-city feel of modern amenities and open spaces. That's why people come here and don't want to leave, rarely moving farther than a 30-minute drive from the city. The secret is out about Greenville, so it's important to jump on the right place to call home now. If you're ready to make Greenville your home, now's the time to start looking for a new house.

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