Home Sales in Myrtle Beach on the Rise

Although the real estate market in Myrtle Beach has improved over the first half of 2010, according to Realtors, but with the prices of properties continuing to drop, there is still a ways to go before the market reaches stability. There are great opportunities for buyers with low prices available and interest rate at an all time low.  Single-family homes grew 32 percent and condo sales rose 38 percent in the first half of 2010, in comparison with the same period from 2009.  Foreclosures and short sales are sold at discounted prices, which is driving down the real estate values overall; with this, the drop in values isn’t great for property owners trying to sell but for some buyers it can mean an unexpected buy here in Myrtle Beach! It may take a couple of years to get through the short sales and foreclosures, but once those distressed properties are off the market there will be hopeful improvement! With the possibility of prices still dropping in 2010, and the interest rate fluctuating a bit, the second half of the year should stay stable and make way to the gains in 2011. Considering the market is the most opportunistic one when seen in years, its sparking the interest of Buyers who normally wouldn’t invest in such properties.