Tuesday, July 19, 2011

Greenville makes list of 10 cities that avoided the housing bust

According to a report in housingzone.com and CNBC, Greenville South Carolina is one of 10 cities that avoided the housing bust. The report points to lower unemployment and foreclosures than the rest of the country.

"Of course this is something we have known all along," said Michael Dey, Executive Vice President of the Home Builders Association of Greenville. "All real estate is local and Greenville has little in common with the larger markets that tend to drive stories of a national housing crisis," Dey said.

A key measure, according to CNBC, is average home prices. According to the report, Greenville's average home prices have fallen just 2.9 percent since the peak of the housing market.

Read the report at Housingzone.com by clicking here.

Read the report at CNBC.com by clicking here.

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