FOR IMMEDIATE RELEASE
Contact: Sharon Stone

COLUMBIA, S.C. (June 4, 2026) — South Carolina’s housing industry continues to serve as a powerful engine for economic growth, supporting thousands of jobs,
generating billions in economic activity, and strengthening communities across the state, according to a new Economic Impact of the Housing Industry report released by
South Carolina REALTORS® (SCR).

The report, prepared by University of South Carolina Research Economist Dr. Joseph Von Nessen, commissioned by SCR, shows that the South Carolina housing industry
generates an annual economic impact of approximately $77.5 billion, supports 278,745 jobs and provides $12.7 billion in labor income for residents. The report also highlighted
the state’s population growth, which is first in the nation.

"Throughout the 2020s, South Carolina has consistently had one of the fastest population growth rates in the nation, which continues to drive strong demand for housing across the state. Given that nearly nine out of every 10 homebuyers work with an agent or broker, real estate professionals continue to be a crucial factor in ensuring that South Carolina’s growing population can find housing, build wealth through homeownership, and support vibrant communities," said Von Nessen.

The real estate sector accounts for approximately 55% of the housing industry’s total impact, and totals nearly $43 billion in economic output, according to the report. Housing-related activity supports jobs across numerous sectors, generates substantial labor income, and contributes significantly to state and local economic prosperity. As South Carolina continues to attract new residents, businesses, and investment, housing remains a cornerstone of the state’s continued success.

"Every home built, sold, or improved creates a ripple effect throughout our economy," said SCR President Corwyn Melette. "Housing supports local businesses, creates jobs, generates tax revenue, and helps families build wealth. This report confirms that a strong housing market benefits every South Carolinian."

As policymakers and community leaders continue to address housing availability and affordability challenges, the report demonstrates the importance of supporting housing development and homeownership opportunities to sustain economic growth and improve the quality of life for South Carolina residents.

"The economic benefits of housing reach every corner of our state and represent almost 20% of South Carolina’s total economy," said SCR CEO Nick Kremydas. "Investing in
housing is investing in jobs, economic opportunity, and stronger communities."

For more information and to view the full Economic Impact of the Housing Industry report, click here.

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South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for approximately 30,000
members involved in all aspects of the residential and commercial real estate industries. REALTOR® is a registered trademark that identifies a
professional in real estate who subscribes to a strict code of ethics as a member of SCR and the National Association of REALTORS®.