USC study: S.C. housing market doing relatively well

University of South Carolina's Moore School of Business has released a report on the South Carolina housing market that concludes the Palmetto State is doing well compared to the rest of the nation.

Some of the highlights are:

The South Carolina housing industry is doing well compared to

the rest of the nation. Housing prices have continued to appreciate

throughout the recession, and housing affordability is the highest

it has ever been in South Carolina. Housing in South Carolina is a

good investment.


South Carolina’s leading indicators are beginning to reveal that the

economic slowdown is bottoming out. Even so, expect a largely

stagnant economy for the rest of 2009 with minimal growth.


A slowly-recovering economy will not bring a return to the levels

of housing experienced in the 2003-2008 expansion. The housing

market in South Carolina and across the nation is establishing a

“new normal” level where the number of housing units demanded

will likely be between 40 and 60 percent of the market sales that

were occurring at the peak of the housing boom in late 2005-2006.

Economic growth beyond this point will be slow and steady as the

national economy rebounds.

Relative affordability in South Carolina will mean that the housing

industry will be among the first industries to experience growth as the economy recovers.

Go read the full report.


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