There could be trouble looming for the area as far as future foreclosures and the unemployment rate for Anderson County has hit a staggering 13.2% during the month of June. Not only are the unemployment numbers high, but many of the people who still have employment are working more hours and for lower wages.

The sales in the area were phenomenal for years. In the years 2005 through 2007 home sold at staggering rates, mainly because retirees were looking for vacation homes in comfortable climates.
In 2007 after the housing market took a dive, home sales dropped drastically. Many of the people who purchased the home as a vacation spot came from areas in Florida. Florida’s housing market was hit just as hard and many who might have been looking to sell their homes were now stuck with properties not being able to sell without losing money on the home. So many potential buyers ended up stuck in the homes they were looking to sell.

Still, Anderson is not as bad as other parts of South Carolina where unemployment rates are much higher. A large part of that has to do with the fact that the location of Anderson is between the cities of Atlanta and Charlotte.
If home sales do start to increase in Anderson, it will be a slow process. The change is not going to happen swiftly and will most likely see a small slow increase, however many experts expect the housing market to show significant gains by the second half of 2011.