Metropolitan Statistical Area (MSA):
Myrtle Beach-Conway-North Myrtle Beach, SC-NC is a Metropolitan Statistical Area (MSA) comprising counties including .
There are many reasons to live in the Myrtle Beach-Conway-North Myrtle Beach metropolitan statistical area (MSA). The area is known for its beautiful beaches, great golfing, and numerous other attractions. It is also a popular destination for retirees. The housing market in the MSA has been strong in recent years, with prices rising and inventory remaining tight.
The following are some trends that have been observed in the MSA's housing market:
1) Prices have been rising steadily over the past few years. The median home price in the MSA was $188,000 in 2017, up from $161,000 in 2016. This trend is expected to continue as demand for housing remains high.
2) Inventory levels have remained tight, especially for single-family homes. This has led to increased competition among buyers and bidding wars on properties.
3) The rental market has also been strong, with vacancy rates remaining low and rents rising. This is due to the influx of retirees and other people moving to the area (many of whom are looking for second homes or investment properties).
4) The construction of new homes has not kept pace with demand, which has put upward pressure on prices. This is expected to continue as land becomes increasingly scarce in the MSA.