Greenville, SC Summer 2013 Market Update

What’s happening in our current real estate market?

The biggest thing we are seeing right now is a more robust market in terms of more buyers out there looking, while at the same time having a decrease in inventory. Several years ago at this same time of year there were almost 9,000 homes on the market, now we have nothing like that!

How do you think rising interest rates will affect our market?

Interest rates have increased significantly. I read that last week was the largest single week long increase in more than 20 years. This is making home affordability higher than what it was even just two weeks ago! These increasing rates are reducing your buying power.