Existing Home Sales On The Rise

Posted By Lindsay Faircloth @ Jan 23rd 2014 1:52pm In: Prudential Myrtle Beach Real Estate News

The Myrtle Beach real estate market has seen an increase in the sales of new construction and existing homes are on the rise as well.

According to NAR (National Association of Realtors) existing-home sales in the South have increased 3% to an annual level of 2.03 million in December, and are 4.6% above December 2012. In addition, median home prices in the South have gone up 8.9% from a year ago! The national average for the sale of an existing single family home has increased 9.8% within the past year.

Existing condos have also seen a rise in value.The median existing condo price is 10.9% above December 2012. This is great news for those are thinking of selling the home or condo. For those who are looking to buy, keep an eye on lending regulations, new loan programs available, and don't take too long to make your decision. Every decision should be well thought out but, in this market, if you wait too long or come in too low for that "great deal" someone else may be waiting behind to buy it.

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