Spartanburg, South Carolina Housing Market Analysis

From: HUD USER News
 
HUD USER has posted a Comprehensive Housing Market
Analysis report for the Spartanburg, South Carolina
Housing Market Area (HMA). Located at the northern border
of the state, the market area analyzed in the subject
report is comprised solely of Spartanburg County.
Economic conditions in the Spartanburg HMA are currently
stable. With an expanding job market (nonfarm employment
up 1.1 percent during the 12 months ending November
2008), the area's population has grown on average 1.2
percent per year since 2000. The three largest job
engines are the manufacturing; trade, transportation, and
utilities; and government sectors.
 
The sales housing market in the HMA is balanced. During
the 12 months ending November 2008, however, total home
sales declined by 20 percent from the previous 12-month
period. During the third quarter of 2008, the median home
sales price fell by 4 percent to $122,000.
 
Compiled by field economists in HUD's Office of Policy  
Development and Research, this report presents economic,
demographic, and housing inventory data that are useful
in foreseeing changes in the demand for new housing. Our
analysis describes the Spartanburg County HMA from 1990
to 2000 and from 2000 through July 2008, also projecting
anticipated market activity during the three-year period
from December 1, 2008 to December 1, 2011.
 
As with previous CHMA reports examining housing market
areas across the nation, this analysis is available
at www.huduser.gov/portal/publications/econdev/mkt_analysis.html
and can be downloaded at no cost.
 
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HUD USER
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1-800-245-2691
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