Phi-Van Cherry February 12, 2026
The housing market has been through quite a transformation over the last few years — and for the first time in a while, the tide is turning in favor of buyers. Across Upstate South Carolina and Western North Carolina, home affordability is beginning to improve, signaling a much-needed change in momentum.
While challenges still exist, the financial pressure that stretched so many buyers is starting to ease. And for those who have been waiting for the right moment to re-enter the market, conditions may finally be aligning in your favor.
One of the most reliable measures of affordability is simple: how much of your income goes toward homeownership. That includes more than just your mortgage payment — property taxes, insurance, and maintenance all factor into the equation. Historically, the sweet spot has been keeping those expenses below 30% of your monthly income.
In recent years, that balance was disrupted. Rising interest rates and home prices outpaced income growth, forcing many would-be buyers to the sidelines. But that’s changing. Recent market data shows a steady improvement — meaning homeownership in markets like Greenville, Spartanburg, Asheville, and Hendersonville is once again moving toward a more sustainable balance.
For high-end homebuyers, affordability doesn’t necessarily mean “cheap.” It means value — the ability to purchase the home you truly want, in the setting you love, without compromising your financial confidence.
As affordability improves, buyers have more leverage and breathing room to make strategic moves. Lower monthly payments can open the door to larger homes, more desirable neighborhoods, or bespoke features that once seemed just beyond reach.
Today’s shift signals more than a numbers change — it’s the return of balance in the market. And that’s good news for everyone, especially in areas where lifestyle and investment potential go hand in hand.
This positive momentum is being driven by three major developments that together are reshaping the market across the Carolinas.
After several years of volatility, mortgage rates have settled near their lowest levels in over three years. Even modest reductions can have a meaningful impact on monthly payments and overall affordability.
Buyers in markets like Downtown Greenville, The Cliffs Communities, and Lake Keowee are finding they can comfortably invest in properties that might’ve been out of reach just a short time ago. Lower borrowing costs are empowering buyers to make confident decisions — and in the luxury space, where every percentage point matters, this relief is especially impactful.
While prices haven’t dropped dramatically, the rapid upward climb of past years has slowed. In both Upstate SC and Western NC, price growth has stabilized, giving buyers time to strategize and plan their next move without feeling rushed.
In Asheville’s mountain estates or Greenville’s architectural new builds, this steadier growth encourages thoughtful purchasing decisions and fosters long-term value — something both buyers and sellers appreciate in a balanced market.
Perhaps the strongest tailwind for affordability right now is income growth. Across much of the Carolinas, wages are increasing faster than home prices — and that’s giving buyers a stronger foundation for homeownership.
Economists, including First American’s Chief Economist Mark Fleming, note that when earnings rise faster than prices, buying power improves, even without major drops in interest rates. In short, households today have more real-world purchasing power — a welcome shift that’s breathing new life into the market.
Affordability improvements are not happening everywhere at once — but several Carolinas markets are leading the way.
In Greenville and Spartanburg, modest home price growth combined with strong job expansion is creating renewed opportunity. Meanwhile, Asheville, Hendersonville, and surrounding Western NC communities are rebalancing after years of steep appreciation, bringing housing costs closer in line with regional incomes.
These early improvements show what a healthier, more sustainable market looks like — one with room for growth and opportunities for both buyers and sellers.
If you’ve been waiting to explore a move, this shifting landscape might be the signal you’ve been waiting for. Whether you’re seeking a luxury lakefront property in Upstate South Carolina or a mountain-view retreat in Western North Carolina, improving affordability gives you more flexibility — and more reason to act.
The Carolinas are unique in that they blend lifestyle, investment, and long-term value seamlessly. And in a market where affordability is finally improving, that blend becomes even more compelling.
As the market evolves, having a trusted guide is more important than ever. My role as your local real estate advisor is to help you understand where opportunities lie — and ensure your next move aligns perfectly with your goals.
Whether you’re looking to make your first luxury purchase or expand your real estate portfolio in the Carolinas, I’d love to help you navigate the path forward with clarity and confidence.
📞 Reach out today for a private consultation and tailored market insights.
Let’s Find the Home That Meets Your Lifestyle and Goals
As the market continues to evolve, personalized strategy is everything. Whether you’re ready to invest in a luxury mountain estate, an elegant Greenville residence, or a lakeside retreat, I’ll guide you through the process with clarity, confidence, and local expertise.
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