We saw a story this week that caught our eye because it stated something very interesting.
That South Carolina (along with North Carolina and Idaho) are leading the way when it comes to new affordable housing construction.
From Groundbreak Carolinas: “This will come as no surprise as the South and West have the fastest growing overall levels of inventory,” said Joel Berner, senior Economist, Realtor.com® “For prospective buyers interested in purchasing a newly built home, these ten states have more newly built options that are more affordable, and fastest-growing. In other parts of the country, purchasing a newly built home may be more challenging until new construction activity picks up.”
Diving into the numbers, South Carolina performed extremely high in three metrics: New Construction as a Share of of Total Listings Rank, New Construction Premium Per Square Foot Rank and Permits Per Capita Rank. While SC didn’t lead in any category directly, it was high enough in all three that we became number one.
This is big news, but we are still playing catch up (as is the rest of the nation) in building new affordable housing.
