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FOX Business Contributor Katrina Campins joins ‘Varney and Co.’ to break down falling mortgage rates, housing market shifts and where home prices are still rising
U.S. homebuyers have been flocking to a fast-growing city situated within South Carolina’s Blue Ridge Mountains, according to data from the Census Bureau.
The population in Greenville, which has become a regional business and manufacturing hub, increased from about 70,720 at the 2020 Census to an estimated 74,371 in 2024, which is roughly a 4.1% rise in four years, according to Census Bureau estimates.
This uptick comes despite the fact that there has been little movement in the housing market due to high borrowing costs and limited inventory in many regions. Also, because of the so-called “lock-in” effect, which refers to homeowners staying put because their existing mortgage rates are significantly lower than current market rates.
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But, according to the Greenville Area Development Corporation, the area has become home to major manufacturing, technology and aerospace employers over the years, making it more attractive to potential homeowners and businesses.
A shot of Falls Park in Greenville, South Carolina. (Getty / Getty Images)
For instance, BMW has automotive operations in nearby Spartanburg County. Michelin North America’s headquarters are in Greenville along with a major hub for Lockheed Martin’s aviation operations. GE Aerospace facilities are also located in the area, boosting the economic draw.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BMWKY | BAYERISCHE MOTOREN WERKE AG | 36.66 | +0.23 | +0.63% |
| LMT | LOCKHEED MARTIN CORP. | 483.03 | -2.72 | -0.56% |
| GE | GE AEROSPACE | 315.14 | -1.61 | -0.51% |
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“For the better part of four decades, Greenville County has spent considerable effort fostering both foreign and domestic relations that have resulted in continued economic growth,” according to the Greenville Area Development Corporation’s website.
Buildings in the city of Greenville, South Carolina. (Getty / Getty Images)
Realtor.com Senior Economist Joel Berner underscored how “Greenville’s strong economic growth led to a housing market that looks much different than most of the rest of the South, where prices are falling in many metros.”
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Given the strong demand for homes in Greenville, listing prices rose by 5.4% year-over-year in November, according to Berner.
Still, even with this uptick and a median price of $369,000, Berner noted that “the Greenville metro area remains very approachable for buyers on a budget.” He also noted that the number of homes for sale is up 22.4% year over year.
UNITED STATES – NOVEMBER 29: A flag waves in the breeze outside the Michelin North American headquarters in Greenville, South Carolina, U.S., on Thursday, Nov. 29, 2007. South Carolina has embraced foreign investment, with companies from BMW to Hitac (Chris Keane/Bloomberg via Getty Images / Getty Images)
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About 8.2% more properties sold in September 2025 than in September 2024, according to Realtor.com data.
“So there are plenty of options available to buyers both in the resale and new construction segments,” Berner added.
