The upward trend of interest rates has undeniably cooled the once-hot South Carolina real estate market.

Myrtle Beach, Greenville, and Spartanburg, while still desirable, have felt the impact.

Buyers are grappling with increased mortgage payments, leading to market slowdown. Many are adopting a ‘wait-and-see’ approach, anticipating potential rate reductions in the near future.

However, holding off might not be the wisest decision. While rates may eventually decline, home prices could also adjust downward, offsetting savings from lower interest. Additionally, competition might lessen, providing opportunities for buyers.

It’s essential for potential homebuyers to carefully weigh these factors and consult with financial advisors to make informed decisions. For realtors, understanding these market dynamics is crucial to effectively guide clients through this evolving landscape.

What are your thoughts? Should your buyers wait or pull the trigger now?

#interest rates #real estate #southcarolina #myrtlebeach #greenville #spartanburg #housingmarket