The 2023 South Carolina housing market continues to remain strong. Keep in mind that the South Carolina housing market is subject to various factors that can influence its performance, such as the overall economy, interest rates, population growth, employment rates, and housing supply and demand dynamics. Here are some key points to consider:

1. Housing Demand: South Carolina has been a popular destination for people looking to relocate due to its pleasant climate, job opportunities, and relatively lower cost of living. An increase in population and demand for housing have led to a moderate rise in home prices.
2. Home Prices: The 2023 housing market has experienced a continuation of the trend seen in recent years, with home prices generally rising. However, the pace of appreciation may have varied across different regions within the state. Strong prices have been seen especially in the Upstate, Low Country (beach areas), Columbia, and Rock Hill regions.
3. Inventory: A crucial factor influencing the housing market is the supply of available homes. Available SC housing inventory has remained low, which has driven up competition among buyers, resulting in higher prices and faster selling times for properties, even with mortgage rates being higher in 2023 versus 2021 and early 2022.
4. Affordability: Housing affordability has become a concern for some residents, particularly in areas with rapid price growth and limited housing supply, but it seems people are still buying homes, but are often dropping their price range for their home search or putting more money down in order to keep mortgage payments moderated.
5. Construction and Development: New construction and housing development projects have not quite met the demand for South Carolina housing, especially in growing areas and cities. This has kept house prices strong for sellers.
6. Impact of the Economy: The overall economic conditions in South Carolina, including job growth and income levels, have influenced the housing market’s performance. The current South Carolina unemployment rate is low at 3.1% (compared to 3.6% for the overall US). This has also helped keep the South Carolina housing market strong.

To get the most accurate and up-to-date information about the 2023 South Carolina housing market, it’s best to consult local real estate experts, research recent market reports, or visit official sources like the U.S. Census Bureau and the South Carolina Association of Realtors.

For updated LOW mortgage rates, call Gary The Expert at 864-979-1111 or go to www.GaryTheMortgageExpert.com.