Myrtle Beach Real Estate Market Update
Local Myrtle Beach Real Estate Market Better Than National Average
The Commerce Department released a report last week revealing that July sales nationwide were bleak, with the numbers of new and existing homes lower than they have been in decades. But in Myrtle Beach, the outlook is not nearly as dire, mostly because of the unique nature of real estate in the region. Good news for the Grand Strand real estate market!
The unique nature of Myrtle Beach real estate is making a difference. The expiration of the $8,000 tax credit in April may have slowed down sales to first-time home buyers in more traditional markets and U.S. cities. Many buyers in Myrtle Beach communities are investors or vacation home buyers, and the tax credit did not make much difference.
This recent report from the Commerce Department illustrates what a great time it is to get excited about the local market. Prices are low, low, low, and buyers have a diverse and extensive pool of properties to consider. Contact The Willis Team today to help navigate the market!