South Carolina was named as one of the Top 10 Most Stable Housing Markets in a recent study by CNBC
According to an analysis by CNBC that weighed each state’s economic health, annual home price appreciation, new construction per year, and foreclosures and insolvency from the first quarter of 2022, the Top 10 Most Stable Housing Markets were identified and South Carolina was ranked #9 in the nation.
Here is why South Carolina was ranked in the Top 10 Most Stable Housing Markets for 2022
- 2022 Economy ranking: 13
- Home price appreciation: 21.4 percent
- Housing starts per 1,000 people: 9.5
- Foreclosure rate: 1 in 1,081 housing units
- Underwater mortgages: 3.4 percent
South Carolina is in the midst of a very heated market, with tight inventory and regular bidding wars, helping prices to continue to rise.
However, strong new construction starts should eventually help mitigate that demand in the upcoming months.
The remaining Top 10 states include:
- #10 – South Dakota
- #9 – South Carolina
- #8 – Arizona
- #7 – Vermont
- #6 – Tennessee
- #5 – Idaho
- #4 – Texas
- #3 – Florida
- #2 – Washington State
- #1 – Utah
Additional Reading: Charleston Rental Forecast 2023
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