According to the most recent projections by the National Association of Realtors© existing home sales are expected to improve in 2008. These projections are based on the consistent increase in pending home sales over the last two months. Pending home sales have increased in the West and Northeast. The Northeast showing positive signs is very significant because it was the first region to slump and it is a major feeder market for us here the Myrtle Beach, South Carolina area.

Existing home sales are going to total around 5.67 million for 2007, which will be the fifth highest on record. This number is expected to rise slightly to 5.7 million in 2008. Along with this projected upswing in existing home sales, there is also expected to be slight rise in median home prices in 2008.

For more information on local real estate trends and conditions please contact me today at 843-424-6900 or email me. You can also visit my Myrtle Beach Real Estate website to search all available properties and find useful information to help you sell your home.