Jan
19

Myrtle Beach Home Sales Set Record

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up_Graph_600x338Pushed by a surge of home sales in December, the Grand Strand set a new record in 2014 for the number of single-family residences sold during the year. Topping out at 5,843, the 2014 total was 500 more than the number sold in 2013, which also marked a record. June set the year’s high volume mark with 581 single-family home sales, a total that then declined through November before ticking up again in December.

“I thought we would be at par (with 2013), maybe slightly better,” said Todd Woodard, president of SiteTech Systems, which generated the statistics.

The growth in home sales stimulates other areas of the economy as well, generating sales in appliances, floor coverings, building materials and other things, said Randy Harrison, owner of Harrison Realty in Surfside Beach.

But the real economic oomph comes from the money paid to people who build new homes, said Rob Salvino, an economist at Coastal Carolina University. “I look at real estate as a sign of how an economy is doing,” he said.

Harrison noted that the second-home and retirement market continues to be strong, as it has for the past year. Salvino said he’s seeing strong growth in the area’s health care industry that no doubts affects the health of the housing market.

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