Metropolitan Statistical Area (MSA):
Columbia, SC is a Metropolitan Statistical Area (MSA) comprising counties including .
There are many factors influencing real estate trends in the housing market, and the Columbia, SC metropolitan statistical area is no different. The following are some of the most notable trends affecting the Columbia housing market:
1) The millennials are coming of age and they're looking for affordable housing options that fit their lifestyle. This has led to an increase in demand for smaller homes, apartments, and condos in urban areas.
2) Baby boomers are downsizing as their children move out on their own. This has created a market for larger homes in suburban areas.
3) Economic growth in the region has led to an influx of new residents and businesses, which has put upward pressure on prices.
4) Low interest rates have made financing a home purchase more attractive, leading to increased demand.