This morning on My Greenville Home Radio, Dan Hamilton discussed the Greenville real estate market with Chris Bailey, the Director of Government Affairs at GGAR, a subset of the MLS. Chris is an advocate for homeowners and has joined Dan to discuss 2022 real estate trends in Greenville.
What is the 2022 Greenville Housing Profile?
The 2022 Housing Profile is a real estate forecast with a focus on housing compiled by the Greater Greenville Association of REALTORS® (GGAR), the Mortgage Lenders Association of the Upstate, and the Home Builders Association of Greenville. It includes 2021 trends and 2022 projections related to the new construction market and real estate at large.
What are some highlights our listeners would be interested in knowing?
There are 842,000 residents in Greenville according to the US Census – and we’re expected to grow! Over 88,000 new homes are needed over the next 20 years to meet the expected demand in Greenville. Contractors have to get busy!
One growing challenge facing Greenville is the “missing middle” created due to a lack of creative housing and suppressive ordinance. Boomers aren’t able to find single story homes in order to downsize and are holding onto the larger homes Millennials should be buying from them. This, along with the lack of affordable space-savvy housing, is creating a real lack of inventory across the upstate.
Changing the housing crisis has been an ongoing conversation for Chris and his team for many years. Though we are still faring better than similar cities in terms of population density, average commute time, and affordability, there is always room for improvement.
Listen to this entire episode of My Greenville Home Radio and earn more about the state of the Upstate Housing Market.