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Experts predict improvements in Myrtle Beach job growth and housing market
New home construction helps fuel job growth
By: Brie Jackson | SCNow
Published: January 23, 2012
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 A recent job study ranked Mytrle Beach number one for potential job growth. Researchers with IHS Global Insight said increasing tourism numbers and an improving real estate market are contributing factors to job creation.
Myrtle Beach, Sc - Real estate analyst, Tom Maeser, said the Grand Strand housing market is seeing improvement. He said about 23 percent of area home sales are new homes which, he said, is up from a low of 15 percent a few years ago. The increase in home building means more jobs for construction workers and other industries"During 2004 to 2007 this whole Grand Strand economy was driven by the construction and real estate business. So when that dropped off, of course it has a major impact on unemployment.
Maeser said the Grand Strand housing market is seeing improvement. He said about 23 percent of area home sales are new homes which, he said, is up from a low of 15 percent a few years ago. The increase in home building means more jobs for construction workers and other industries.
"You have banks, you have mortgage scenario's you have attorneys and title companies" said Maesar. "You look at all the industries related to putting a real estate transaction together. It's pretty massive.
Maesar said he doesn't think home prices will reach 2006 values, when houses sold for more than they were worth. Since then, the recession hit and prices dropped significantly but Maesear believes values will eventually even out.
According to 2008 figures, from the National Assoication of Home Builders, building one new single family home creates about 3 jobs.
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