Horry County housing market struggling to meet demand amid population boom

HORRY COUNTY, S.C. (WBTW) — Horry County’s promise of lazy beach days and beautiful year-round weather contributes to its ever-increasing growth.

A recent population forecast from the state Office of Revenue and Fiscal Affairs expects South Carolina to grow to nearly 6.4 million residents by 2042, a more than 18% increase from 2024 — with Horry County’s population increasing the most.

That influx of people, experts say, plays a role in the area’s housing market.

“One of the things that’s impacting, just like with all economies, is supply and demand,” said Luke Anderson of Beach and Forest Realty. “So with our low amount of supply, the price continues to climb up because we just don’t have the inventory to meet the demand.”

The Coastal Carolina Assocation of Realtors said August marked the first time in five months that U.S. home sales improved. Locally, median sales prices dropped by 3% for single-family homes and 7.5% for condominiums.

Robert Salvino, director of the Grant Center for Real Estate and Economics at Coastal Carolina University, said buyers are attracted to areas with lower property taxes and below-average prices.

So why is it getting more expensive to purchase a home on the Grand Strand?

“The biggest impact was inflation. After COVID there was a huge expansion of the money supply, I’m talking trillions of dollars. And the inflation hits housing probably the hardest, because it’s the largest component in inflation measures,” he said.

Anderson said technological enhancements that let would-be homebuyers see flood zones and road closures in real time influence their purchasing decisions.

“You can see the future route of I-73. You can see school districts. You can see fire station, police precincts. There’s so much information at everyone’s fingertips,” he said.

Maggie Torres recently moved to Conway from New York after exploring the Charleston and Greenville areas.

“I found my happy place. I sometimes think maybe your happy place finds you. I’ve been searching only for about a year. I’m retired, and you’re supposed to move down south. That’s the rule we have in New York.”

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Adam Benson joined the News13 digital team in January 2024. He is a veteran South Carolina reporter with previous stops at the Greenwood Index-Journal, Post & Courier and The Sun News in Myrtle Beach. Adam is a Boston native and University of Utah graduate. Follow Adam on X, formerly Twitter, at @AdamNewshound12 . See more of his work here .

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Carly Knowlton is a multimedia journalist at News13. She graduated from Penn State University in May 2024 and joined the News13 team in July 2024. Carly is from Delaware County, Pennsylvania. Follow Carly on Facebook , Instagram , and read more of her work here .

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