According to a recent housing report card, Southern and Midwestern states excel in homebuilding and affordability. South Carolina achieved an A grade, being the only state to do so. While 13 states earned grades A or B, the Western and Northeastern states received F grades due to high prices and strict regulations. The report highlights significant disparities in housing markets across the U.S., with the country facing a housing supply gap of nearly 4 million units. Evaluations considered factors like housing affordability and homebuilding activity.
"Our state report card rankings reveal stark disparities in housing affordability and homebuilding efforts across the U.S.," says Realtor.com Chief Economist Danielle Hale. "While some states are leading the way with strong homebuilding activity, others are grappling with high housing prices and sluggish construction."
Affordability, one half of the score, includes the Realtors® Affordability Score and the share of median income it takes to make payments on a median-priced home.
In this last regard, South Carolina excels, with the typical new home in the Palmetto State priced 8.2% lower than the typical existing home.
The rankings for each state are equally based on two major factors: housing affordability and the ability to meet future supply challenges through new construction.
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