South Carolina, home to some of the most beautiful beaches and islands on the east coast, is one of the largest tourism states in the country. White sandy beaches, copious golf courses, and majestic waterfalls are just a few of the many attractions that bring visitors there. The housing market in the state has felt great rewards from the tourism coming in. Many of the coastal towns have transformed into full-service resort communities. Myrtle Beach, one example of a small town transformed, continues to experience rapid growth with retirees and families moving in. Many cities throughout the state are sought after by home buyers as more and more people find them desirable places to live.

The state of South Carolina is one of the first in the nation. The eighth state to join the U.S. in 1788, South Carolina is full of history and tradition. With a rich southern background, southern influence has played a large part in the culture of the people today. Southern hospitality is known throughout the state. Hospitality and tourism work well together. South Carolinians are masters at the art of making people feel at home. Tourists are treated with kindness and often return to find permanent residence in the state.
The major cities in the state are highly recognized as great places to live by new residents. Charleston and Columbia, the two largest cities, have a very welcoming feel. Both cities offer numerous opportunities for employment. Stable industries like the military and health sectors have helped to keep and create jobs in tough economic times. Popular universities like, Clemson University and University of South Carolina have also helped to create jobs and bring more residents into the state. Population, in turn, has continued to increase. Charleston has had an increase in population by 2% annually for the last five years. Columbia has experienced a similar increase with a steady 9.2% increase since 2000. Read more »

The largest population increase has come in the smaller tourist towns. Myrtle Beach is the best example of a tourist town that has seen a lot of attention from home builders in recent years. The city has an extraordinary amount of activities available to tourist and residents. Over a hundred world-class golf courses, shops, restaurant, and tennis courts are available. Beautiful oceanfront homes line the coast for miles. Builders have seen a lot of activity with population increases of 5% annually.

Sales Trends
The Myrtle Beach market has been rated the 15th healthiest market in the country. Hanley Wood rated the market so highly based on the impressive builder activity for the size of the market. Total sales for new homes were 3,211 in 2008.With a population of 266,000; 3,211 is an impressive ratio. Retirees moving into the state have helped to create a strong housing market as new homes are built almost as fast as new residents can move in. A detailed look at the report on Myrtle Beach is available here.
The major cities’ volumes are also showing a healthy market for the rest of South Carolina. Charleston and Columbia have had steady sales and housing prices. 4,947 new homes in Charleston and 4,352 new homes sold in Columbia show that the market has some life in the state. Steady housing prices have helped to keep builders alive and building.

Other Key Trends
As the economy recovers, tourism should increase from families with more expendable incomes. The housing market in North Carolina survives on the tourism coming in and out of the state. New Home sales should increase more and more in the years to come. Builders are anticipating a large increase in demand for homes in the many resort type towns of the state. Retirement and vacation homes will become more of a reality for families as worries of financial stability begin to fade. The Carolina housing market will continue to build homes, and increase as confidence is restored.   « Close »