Jun
21

Strand’s Home Sales Pick Up

By

Condos, houses fall short of ’07 figures

June 21, 2008

By Jessica Foster – The Sun News

Home sales on the Grand Strand rose in May over the previous month, though sales and prices were still down from last year, according to data released Friday by the Coastal Carolinas Association of Realtors.

There were 313 single-family house sales in May, up from 252 in April, and 294 condo sales, up from 268. That’s down from May 2007, when 464 houses and 385 condos sold.

It’s no surprise that monthly reports show fewer sales than last year, said Jewell Knight, a broker for RE/MAX Southern Shores.

The economy is in a slump, the credit market is tight and real estate is in a buyer’s market with excess inventory and less demand than during the housing market’s peak several year’s ago.

“Certainly the market is off from last year and the prior year. I think that we all recognize that nationwide, that’s true,” she said. “Condos are moving slower as well as prices are lowering.”

However, Knight said she’s recently seen a boost in condo sales – she sold two this week – which she attributes to interest rates, lower prices and the influx of vacationers looking to buy.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.myrtlebeachonline.com/business/story/494080.html

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