GREENVILLE, S.C. (FOX Carolina) – Economic pressures and rising interest rates are cooling the real estate market across Upstate South Carolina, leaving homes on the market longer despite steady new construction and remodeling projects.
New market data shows an increase in available housing inventory, but buyers are taking longer to close deals. Financial experts note that inflation at the gas pump and grocery stores is making it difficult for prospective buyers to save for substantial down payments.
Rising interest rates have also significantly reduced purchasing power…