South Carolina Markets Buck the National Housing Slowdown
- The GURU
- Jan 8
- 4 min read
While much of the U.S. housing market continues to wrestle with high interest rates, tight inventory, and consumer hesitation, select South Carolina markets are quietly moving in the opposite direction. One standout: Greenville.
Growth Despite a Challenging National Backdrop
Across the country, elevated borrowing costs and limited housing supply have slowed transaction activity. Many homeowners remain anchored by the so-called “lock-in effect,” choosing not to sell because their existing mortgage rates are far below what the market offers today.
Yet Greenville has managed to defy these headwinds.
According to U.S. Census Bureau estimates, Greenville’s population grew from approximately 70,720 at the 2020 Census to an estimated 74,371 by 2024—representing roughly 4.1% growth in just four years. This population increase is notable considering the broader national housing slowdown over the same period.
A Business-Driven Housing Magnet
The underlying driver of Greenville’s resilience is economic expansion. Over time, the region has transformed into a significant hub for manufacturing, technology, and aerospace—industries that bring stable, well-paying jobs and long-term growth.
Major global employers with a presence in the area include Bayerische Motoren Werke AG, Lockheed Martin Corp., and GE Aerospace. Their operations not only support direct employment but also fuel demand for housing, logistics, commercial real estate, and supporting businesses.
As job growth continues, housing demand follows—even in a higher-rate environment.
A Long-Term Economic Strategy That’s Paying Off
According to the Greenville Area Development Corporation, the region’s success is the result of decades of intentional investment and global relationship-building.
“Greenville County has spent considerable effort fostering both foreign and domestic relations that have resulted in continued economic growth for the better part of forty years.”
This long-range approach has positioned Greenville as a market that can absorb economic shocks better than many metro areas that lack diversified employment bases.
What This Means for Investors and Lenders
For commercial real estate investors, developers, and lenders, markets like Greenville illustrate an important trend: not all housing slowdowns are equal. Areas supported by strong job creation, population growth, and employer stability may continue to outperform—even while national headlines remain cautious.
At PCG Commercial, we’re closely tracking these resilient secondary markets across the Southeast. For investors seeking opportunities aligned with real demand rather than speculation, South Carolina—particularly Greenville—deserves serious consideration.
Final Thoughts
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