Rankings/Greenville, NC

Greenville, NC

ElevatedTier 1CBSA 24780Compare

Risk Rank: #40 of 273Month: 2026-08Score change (12m):↑ +9

61score

Composite risk percentile vs 273 metros (higher = higher risk)

Executive Summary

Greenville's housing market shows elevated risk, ranking 40th of 273 metros. The market recently entered Recovery. Inventory is growing moderately (+15% YoY) with stable liquidity. Early signs of stabilization — conditions may favor patient buyers.

Greenville experienced a market correction from mid-2025 through late 2025. The market is currently recovering.

Inventory is growing at a moderate +15% pace with homes taking +8% longer to sell — within normal ranges.

Rent growth is roughly keeping pace with price appreciation, suggesting valuations are not stretched.

Cycle Phase

RecoveryExpansionHypersupplyRecession

1 month in current phase

Market conditions are rebuilding after a correction period

Key Dynamics

Risk is primarily driven by permits per capita and permit growth, while price momentum provides the most support.

Top Drivers

Permits per Capitap91

Permits per 1,000 residents

Permit Growthp84

YoY permit change

Migrationp74

Net AGI migration (risk inverted)

Market Signals

Inventory is growing at a moderate +15% pace with homes taking +8% longer to sell — within normal ranges.

Liquidity

Stable↓

Active Listings YoY

+14.8%p65

Days on Market YoY

+8.3%p64

Months in status1

Data through Aug 2026

Valuation

Balanced—

Rent vs. Price Growth

+2.8%p91

Months in status1

Data through Aug 2026Rent growth vs price growth (rent support). Note: Affordability and Valuation measure different structural dimensions and can diverge.

Factor Details

Lower riskHigher risk

Low RiskBelow AvgNeutralElevatedHigh Risk

Price MomentumLow Risk

-0.2%p10

12-month HPI change — higher = overheating

Permit GrowthHigh Risk

+25.9%p84

YoY permit change — higher = supply pressure

Permits per CapitaHigh Risk

9.94p91

Permits per 1,000 residents — higher = overbuilding risk

AffordabilityNeutral

0.30p56

Mortgage payment / income — higher = more burdened

EmploymentNeutral

+0.5%p49

12-month employment change (risk inverted)

MigrationElevated

-$23Kp74

Net AGI migration (risk inverted)

National Context

Credit Conditions

Credit Regime

Stable—

Healthy recovery. Credit is flowing normally and transactions are steady — conditions favor continued rebuilding.

Bank Lending Standards

+0.0Normal

Rate Change (YoY)

+11 bpsNormal

Mortgage Risk Premium

+196 bpsElevated

Stable for 10 quartersData through 2026-Q3

Supply Pipeline

Supply Regime

Accumulating—

Supply pipeline is building up while credit remains available. New units are accumulating in the system — watch for delivery pressure in coming quarters.

Pipeline Ratio

0.89Elevated

Completion-Permit Divergence

-19.2 ppNormal

Accumulating for 6 quartersData through 2026-Q3

Local Signals

Metro Permit Activity

Permit Activity

Normal

YoY Permit Growth

+25.9%Within norm

Raw signal — not the composite percentile

Relative to 2016–2019 norms for this metro

Supply and demand are in equilibrium. No unusual activity on either side of the market.

Employment Concentration

Employment

Concentrated

Largest SectorGovernment 31.1%

QCEW 2024 annual averages

Internal Structure

County-level structural analysis.

County-level structural analysis is not available for this metro due to fewer than 3 qualifying counties.

Score History

Month	Phase	Score	Price	Permits	Afford	Employ	Migr
2026-06	Hyp	53	18	74	58	7	73
2026-05	Exp	51	54	36	58	5	73
2025-12	Hyp	48	18	48	57	13	73
2025-10	Rec	52	62	37	61	8	69
2025-09	Hyp	53	57	37	61	15	69
2025-07	Ress	51	47	37	61	16	69
2025-05	Ress	49	3	37	51	54	69
2025-04	Hyp	52	4	37	51	75	69
2025-02	Hyp	71	88	37	63	90	69
2024-11	Hyp	68	72	37	59	92	69
2024-08	Hyp	57	26	37	62	68	69
2024-07	Ress	50	11	37	62	42	69
2024-05	Ress	56	78	37	63	10	69
2024-02	Hyp	52	60	37	55	14	69
2024-01	Exp	54	55	37	55	29	69
2023-11	Exp	46	26	37	32	34	69
2023-10	Rec	45	19	37	32	33	69
2023-08	Rec	58	94	37	45	26	69
2023-07	Hyp	60	96	37	45	36	69
2023-05	Hyp	52	31	37	29	65	69
2023-03	Ress	50	43	37	32	43	69
2023-01	Ress	50	58	37	32	26	69
2022-10	Ress	61	95	37	42	42	69
2022-08	Exp	61	69	37	32	79	69
2022-06	Exp	60	68	37	35	73	69
2022-03	Rec	60	65	37	31	78	69
2022-01	Rec	54	60	37	31	49	69
2021-11	Exp	62	39	36	62	75	82
2021-09	Exp	69	65	36	69	82	82
2021-06	Exp	56	45	36	65	32	82
2021-03	Rec	60	61	36	65	41	82
2021-01	Rec	64	53	36	65	68	82
2020-10	Rec	52	57	36	19	45	77
2020-07	Rec	46	30	36	17	36	77
2020-05	Exp	47	38	36	17	37	77
2020-03	Exp	58	49	36	17	89	77
2019-12	Exp	54	38	36	17	85	71
2019-09	Exp	51	66	36	17	40	71
2019-06	Rec	50	14	36	16	88	71
2019-04	Rec	52	32	36	16	80	71
2019-01	Rec	48	34	36	17	55	71

Data Vintages

Price (HPI)2026-Q2

Permits2026-08

Income2024

Employment2026-08

Migration2023