The TRUTH About Interest Rates and Buyer Demand

The TRUTH About Interest Rates and Buyer Demand

In the upstate real estate market, fluctuating interest rates have caused uncertainty among buyers. Despite this, increased home sales are driven by millennials entering their prime home-buying years and continuous migration to the Greenville area. New construction properties now make up over 43% of listings, with builders offering incentives like interest rate buy-downs to attract buyers. Well-priced homes in desirable locations sell quickly, often at or above the asking price, while overpriced properties linger and may eventually sell below market value. Overall, the market offers opportunities for both buyers and sellers, but success depends on adopting effective strategies.