Understanding South Carolina’s Housing Market Shift: What Every Real Estate Agent Needs to Know

Horry County is booming. Since 2020, our population has surged from 353,498 to 441,000—and projections show we’ll hit 492,000 by 2035. That’s a staggering 51,000 new residents in just the next decade!

But what does that mean for you as a real estate agent?

The Ripple Effect of the Refinance Boom

Between 2020 and 2022, over 14 million homeowners nationwide are locked in historically low mortgage rates. Here in Horry County, this created a unique challenge—many of these homeowners are staying put, enjoying their low rates, and reducing our available resale inventory. Historically, homeowners move every 10 years and refinance every 4-5 years, but these ultra-low rates have changed the game.

Why New Construction is Critical

With resale inventory tightening, new construction has become the backbone of our housing market. You may hear buyers question the number of new builds popping up across the Grand Strand, but the reality is, they are essential. Our growing population needs homes, and many existing homeowners are essentially “locked in” with their current mortgages.

This is where your expertise comes in. Understanding and communicating this market shift can help you position yourself as a knowledgeable and trusted advisor. When your clients ask about the construction boom, explain that it’s not overbuilding—it’s an adaptive response to real demand.

How to Use This Insight to Grow Your Business

• Educate Your Clients: Buyers may hesitate when they see a flood of new homes, but helping them understand the long-term market trends builds trust and confidence in their purchase.
• Tap Into New Construction Sales: If resale inventory is limited, focusing on new construction can open up more opportunities for you to close deals.
• Stay Ahead with Continuing Education: Real estate is evolving, and staying informed is the key to success. Learn how to navigate market shifts, work effectively with builders, and maximize opportunities by enrolling in our Continuing Education (CE) courses at Pinnacle Real Estate Academy.

Ready to Elevate Your Real Estate Career?

At Pinnacle Real Estate Academy, we provide expert-led in-person and Zoom courses designed to keep you ahead of market trends. Whether you’re fulfilling your biennial CE requirements or looking to refine your strategy, our courses will equip you with the tools to thrive.

📅 Upcoming CE Courses: Check out our course schedule here.

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Stay informed, stay successful, and let’s navigate this growing market together!