Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
FOX Business Contributor Katrina Campins Joins ‘Varney and Co.’ to Counter Falling Mortgage Rates, Changes in the Housing Market and Cases Where Home Prices Continue to Rise
Home Buyers in the United States flocked to a rapidly growing city in South Carolina’s Blue Ridge Mountains, according to Census Bureau data.
The population of Greenville, which has become a regional business and manufacturing center, increased from about 70,720 residents in the 2020 census to about 74,371 residents in 2024, an increase of about 4.1% in four years, according to Census Bureau estimates.
The rise comes despite little movement in the housing market due to high borrowing costs and limited inventory in many areas. Also, because of the so-called “locking” effect, which refers to homeowners who stay put because their existing mortgage rates are significantly lower than current market rates.
THESE 10 MARKETS COULD SEE THE BIGGEST INCREASE IN HOME PURCHASES AS MORTGAGE RATES FALL
But, according to the Greenville Area Development Corporation, the area has become home to major employers in manufacturing, technology and aerospace over the years, making it more attractive to potential homeowners and businesses.
A photo of Falls Park in Greenville, South Carolina. (Getty Images)
For example, BMW has automotive operations in neighboring Spartanburg County. Michelin North America’s headquarters is in Greenville, as well as a major hub for Lockheed Martin’s aviation operations. GE Aerospace facilities are also located in the area, stimulate economic attractiveness.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| BMWKY | BAYERISCHE MOTOREN WERKE AG | 36.79 | +0.36 |
+0.99% |
| LMT | LOCKHEED MARTIN CORP. | 488.92 | +5.71 |
+1.18% |
| GE | GE AEROSPACE | 307.21 | +5.52 |
+1.83% |
Fed cuts interest rates for third straight time amid uncertainty over labor market and inflation
“For nearly four decades, Greenville County has made significant efforts to foster foreign and domestic relations, resulting in continued economic growth,” according to the Greenville Area Development Corporation website.
City buildings in Greenville, South Carolina. (Getty Images)
Joel Berner, Realtor.com’s senior economist, noted how Greenville’s “strong economic growth has led to a very different real estate market than most other parts of the South, where prices are falling in many metro areas.”
HOUSING MARKET EXPECTED TO OFFER LITTLE RELIEF TO BUYERS IN 2026 DESPITE MODEST IMPROVEMENTS AHEAD
Given the high demand for housing in Greenville, listing prices increased 5.4% year over year in November, according to Berner.
Yet even with this increase and a median price of $369,000, Berner noted that “the Greenville metro area remains very accessible for buyers on a budget.” He also noted that the number of homes for sale is up 22.4% year-over-year.
A flag waves in the breeze in front of Michelin’s North American headquarters in Greenville, South Carolina, Thursday, November 29, 2007. South Carolina has embraced foreign investment, with companies from BMW to Hitachi Ltd. (Chris Keane/Bloomberg via Getty Images)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
About 8.2% more properties sold in September 2025 than in September 2024, according to Realtor.com data.
“So there are many options available to buyers, both in the resale and new construction segments,” Berner added.
