Myrtle Beach Real Estate – Don’t miss the widow

Posted in General Real Estate , Myrtle Beach Real Estate

There are several key factors that show the Real Estate Market is making a turn towards the positive.  More people back in the market looking for homes, sales improving, inventory down, intrest rates decreased last week are all great indicators.  With the Fall season approaching and the Presidental Election almost over now is a perfect time to jump into the market. If you are looking for Real Estate there is outstanding value in the Myrtle Beach Market.  Rememer the Coastal regions are the last to slow down and the first markets to pick back up.  Don’t miss your window of opportunity.

FACTS

Thirteen states registered price gains over the past year, and 33 states had increases in the second quarter, according to the CMHPI Purchase-Only Series.

Myrtle Beach recently made Realtor.com’s list of markets across the nation with the fastest-growing search activity, likely because people are readying to snag a deal when the market bottoms, and they’re looking in areas with the steepest price declines, experts said.

Of the 135 markets with the biggest uptick in Web traffic, Myrtle Beach was 42nd, with a 24.6 percent increase in search activity on the home selling site for the National Association of Realtors. The survey compared search activity in July to July 2007.

Freddie Mac released the results of its Primary Mortgage Market Survey® in which the 30-year fixed-rate mortgage (FRM) averaged 6.40 percent with an average 0.6 point for the week ending August 21, 2008, down from last week when it averaged 6.47 percent. Last year at this time, the 30-year FRM averaged 6.67 percent.
Sales of newly built single-family homes rose 2.4 percent to a seasonally adjusted annual rate of 515,000 units in July, the Commerce Department reported. The report also indicated continuing contraction in the number of new-homes for sale as builders keep a tight rein on inventories to help restore better balance between market supply and demand.
 
“With 15 consecutive months of reductions in the number of new homes for sale, builders are clearly doing a good job of chipping away at their inventories,” noted Sandy Dunn, president of the National Association of Home Builders (NAHB) and a home builder from Point Pleasant, W.Va. “Now that the government has also done its part by passing a much-needed housing stimulus package, we are looking forward to positive effects on new-home sales in the near future.”

“With the passage of crucial housing legislation last month that created an attractive home buyer tax credit, there is a sense that home sales may soon be reaching a turning point,” noted Dunn.  “Builders are anticipating the stimulative effects of this legislation and are optimistic that the tax credit will give those buyers who’ve been sitting on the fence the reason they need to jump back into the market.”