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"I am going to wait until the market comes back", If I had a penny for every time I have heard that in our real estate market! Guess what, the Myrtle Beach real estate market is on it's way back and home prices have risen over 19% nationally within the past year!. Inventory is lower than it has been in 12 years and interest rates are still at a historic low, so "why is my house still for sale", you ask. There are many factors that influence a home's sale and today we will be talking about new construction. There is no doubt that homes with distinct character, beautiful upgrades and those priced below market value are always desirable but if your home doesn't quite fit into this category or if you are in a neighborhood where they have begun building new again, you may be facing a challenge.
When the market bottomed out, new construction took a huge hit. Neighborhoods that were planned completely stalled, investors pulled out and lots were left abandoned. Now, demand for affordable housing has increased at such a rapid rate that builders are listening and they are building homes that will rival any existing home and possibly cost less. If you are facing the sale of your home and new homes have begun to be built, list now, not later.