These SC cities are among the top 10 hot spots for US real estate for 2025. See who’s in
The Greenville and Anderson real estate market was listed as a top 10 hot spot in the nation for 2025 by the National Association of Realtors.
The inclusion was based on economic, demographic and housing factors.
“Important factors common among the top performing markets in 2025 include available inventory at affordable price points, a better chance of unlocking low mortgage rates, higher income growth for young adults and net migration into specific metro areas,” Lawrence Yun, the association’s chief economist and senior vice president of research said in a news release.
The association found the Greenville Anderson market had a job growth of 8% and net migration of 1.7%. Price growth of homes was 42%.
Just over 14,000 homes were sold in Greenville from December 2022 to December 2023, according to the Greater Greenville Association of Realtors.
The association said mortgage rates overall will stabilize near 6% in 2025.
“At this rate, more buyers are expected to come back to the market, boosting activity, and the association projects 4.5 million existing-home sales in 2025,” the news release said.
A national housing shortage continues, but the inventory levels are gradually improving due to new construction and homeowners deciding to sell.
Housing starts should reach 1.45 million units in the next couple of years, the association said.
“The association also predicts that home prices will continue to increase in 2025, but at a slower pace compared to previous years — with increases likely to be around 2% — reaching a $410,700 median existing-home price,” the news release said.
The association’s findings are detailed in Housing Hot Spots for 2025: Top Markets Amid Stabilizing Rates.
The other hot housing communities are:
Boston-Cambridge-Newton, Massachusetts-New Hampshire
Charlotte-Concord-Gastonia, North Carolina-South Carolina
Grand Rapids-Kentwood, Michigan
Hartford-East-Hartford-Middletown, Connecticut
Indianapolis-Carmel-Anderson, Indiana
Kansas City, Missouri-Kansas
Knoxville, Tennessee
Phoenix-Mesa-Chandler, Arizona
San Antonio-New Braunfels, Texas
“Home buyers will have more success next year,” Yun said. “The worst of the affordability challenges are over as more inventory, stable mortgage rates and continued job and income growth pave the way for more Americans to achieve homeownership.”
NAR analyzed the share of locked-in homeowners, average mortgage rate, job growth, share of millennial renters who can afford to buy a home, net migration to population ratio, share of households reaching homebuying age in the next five years, share of out-of-state movers purchasing a home, share of homeowners surpassing the average length of tenure, share of starter-owner occupied units; and home price appreciation.