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Troubling Data For Future Horry County Real Estate Sales

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David Huckshttps://myrtlebeachsc.com
David Hucks is a 12th generation descendant of the area we now call Myrtle Beach, S.C. David attended Coastal Carolina University and like most of his family, has never left the area. David is the lead journalist at MyrtleBeachSC.com
Vote Johnny Gardner

Rocket Homes lists Horry County as a seller’s market for 2020 and 2021.

The median sales price for a home sold in Horry County is currently $245,569.

Horry County is the fastest growing county in the state with 350,000 total residents and the growth continues.

PROBLEMS JUST AHEAD, HOWEVER

Click Image to see real time Boomer Death Clock

In 2014, Incendar.com created something known as the Boomer Death Clock. While it is certainly a morbid name, each generation does live out its own life cycle.

According to Incendar, in America, one baby boomer dies every 16.5 seconds. That number is projected to double over the next 10 years.

Boomers
Young Boomers and Old Boomers account for 32% of all home sales

According to the National Association of Realtors, Baby Boomers bought 32% of all homes sold in America in 2021.

Millennial and Gen X buyers were just behind. Millennials now account for the largest generation by numbers in America.

Statistic: Resident population in the United States in 2020, by generation (in millions) | Statista
Find more statistics at Statista

FAST FORWARD 5 YEARS

The Gen X generation is not nearly as large as were the boomers. This generation is approximately 10 years from retiring. However, Horry County is not in their top tier location for retirement.

IT GETS WORSE – MILLENIALS

The top 10 states millennials are buying homes in, include:

1. Denver, Colorado

Denver had the biggest net migration of millennial residents with 10,974 millennials moving to the city from a different state in 2019, resulting in about 33% of Denver’s population being millennials.

2. Seattle, Washington

Seattle had a net migration of 6,164 millennials from out of state, making them 34% of the city’s population.

3. Phoenix, Arizona

Phoenix had a net migration of 5,958 millennials. Twenty-three percent of the city’s population were millennials post-migration.

4. Austin, Texas

Austin had a net migration of 5,686 millennials from out of state, making them 31% of the city’s population.

5. Colorado Springs, Colorado

Colorado Springs had a net migration of 5,050 millennials from out of state in 2019. Millennials made up about 24% of the city’s population.

6. Frisco, Texas

Frisco, which is in the Dallas-Fort Worth metro area, had a net migration of 3,516 millennials from out of state in 2019, to total about 19% of the city’s population.

7. Cary, North Carolina

Cary, whichi is about 15 minutes west of Raleigh, had a net migration of 3,364 millennials from out of state in 2019. No data was available on the millennial population.

8. Portland, Oregon

Portland had a net migration of 3,311 millennials from out of state, resulting in them making up about 29% of the city’s population.

9. Henderson, Nevada

Henderson, which is about 25 minutes from downtown Las Vegas, had a net migration of 3,042 millennials from out of state in 2019. Millennials made up about 20% of the city’s population.

10. Cape Coral, Florida

Cape Coral, which is about 20 minutes from Fort Meyers and is located on the Gulf coast, had a net migration of 2,666 millennials from out of state in 2019. Millennials made up about 18% of the city’s population.

Horry County is nowhere to be found on this list.

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