Home Prices On The Rise In Greenville South Carolina

Home Prices On The Rise In Greenville South Carolina

What a happy recovery its been in Greenville SC.  Consumer confidence is back at a high in the local market and the median sales price has increased once again 4.0%.  

The Average sales price in just 1 year has increased $10,000, making that a 5.0% increase over the last 12 months according the Greater Greenville Association of Realtors Market Stats.

The issues we are seeing now are the fact that jobs have increased but pay has not kept up with the trend of price increase.  Housing affordability index has once again fallen to a lower number approx. 2.0% from last months numbers.  

This index measures housing affordability for the region.  For example...An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.

2012 the Affordability index was 191, it is now at 171 with a constant change of of at least 2-5% by month.  

It is still cheaper to purchase a home rather than to rent at the present time.  If and when the economy recovers you will be happy you 
purchased your first home, or upgraded to the larger home in this market.  Be sure and consult the right Real Estate Professional to help you do so.

Nick Hammett Headshot
Phone: 864-414-0560
Dated: August 25th 2014
Views: 2,031
About Nick: I have truly enjoyed helping people achieve their goals as they make one of the largest financial de...

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