Greenville’s home prices remain more affordable than in two-thirds of the cities in a national housing index.

The 2009 Coldwell Banker Home Price Comparison Index ranked Greenville in the top one-third of affordable housing markets in the nation with an average home price of $214,116 for a 2,200 square foot home.

The Coldwell Banker data affirms the observation in last summer’s S.C. Housing Market Report from the Moore School of Business that “the high affordability of housing in South Carolina will mean that the housing industry will be among the first industries to experience growth as the economy recovers.”

The HPCI is an annual study released by Coldwell Banker Real Estate LLC that provides a comparison of similar 2,200 square foot, four-bedroom, 2.5 bath homes among 310 U.S. markets.

Coldwell Banker Caine of Greenville participated locally in the study that provides insight into the affordability of homes nationwide. This year’s study ranked Greenville No. 103 in affordability, almost $150,000 below the national average of $363,460.

“The Upstate continues to provide a wide range of affordable housing options,” said Brad Halter, president of Coldwell Banker Caine. “This affordability, along with low interest rates and tax incentives, provides first-time home buyers and move-up buyers with a unique opportunity to take advantage of Greenville’s current housing market.” Halter said the study also shows that Greenville’s homes are maintaining their value.

Source: GSA Business