Should You Buy a Home in Myrtle Beach Now or Wait for Rates to Drop?
Buying a home in Myrtle Beach now comes with both opportunities and risks due to fluctuating mortgage rates and mixed trends in local housing prices. Current mortgage rates have ticked down following recent Federal Reserve cuts, with most lenders offering rates in the mid-6% range for a 30-year fixed loan, and some as low as 5.625% for highly qualified buyers. Home prices have remained stable overall, showing no major downward correction despite small year-over-year dips.
Myrtle Beach Home Price Trends
According to Redfin, the median sales price in September 2025 was $267,000, showing a minimal decline of just 0.19% year-over-year and an average of 126 days on the market. Meanwhile, Zillow reports an average home value of $318,691, which is down about 4.1% from the previous year. Despite these small changes, analysts agree there is no sign of a dramatic price drop ahead. In fact, condo prices have increased 5.6% from last year, averaging $264,110.
Current Mortgage Rates and Fed Cuts
As of late October 2025, most 30-year fixed-rate mortgages in Myrtle Beach fall between 6.1% and 6.6%, with some top-tier borrowers securing rates below 6%. The Charles Schwab Center for Financial Research notes that while the Federal Reserve recently cut its benchmark rate by 0.25%, mortgage rates are influenced by inflation, bond yields, and overall market sentiment, not just Fed moves. More cuts could come before year-end, but experts expect gradual, unpredictable shifts rather than sharp declines.
Monthly Payment Example: Current vs. Lower Rates
Scenario
Home Price
Rate
Monthly P&I Payment
Current rates
$267,000
6.26%
≈$1,647
Potential future rate
$267,000
5.50%
≈$1,518
These figures are for example purposes only and do not represent an actual loan offer. Payments may vary based on credit score, loan program, and other factors.
Every 1% reduction in mortgage rate can lower monthly costs by approximately $150 to $160 on a $267,000 home. The exact savings depend on rate movement and timing.
Should You Wait or Buy Now?
There is little evidence that Myrtle Beach home prices will fall significantly in 2025. While inventory is slowly increasing, it is not enough to push prices lower. Even if rates drop another half point, buyers may only save $125 to $175 per month. That savings could be offset quickly if prices rise once demand increases.
Buyers considering their next move should keep these points in mind:
Inventory remains limited, so desirable homes may sell quickly.
Rates could fall slightly, but timing the market is uncertain.
Beaufort Lending’s rates are typically 0.5% below national averages, which can reduce payments immediately.
Refinancing later is always an option if rates continue to improve.
As Redfin highlights, homeownership decisions should be based on long-term financial goals rather than short-term rate fluctuations.
Conclusion
Serious buyers seeking stability and certainty may benefit from acting now, especially if they find a home that fits their budget and lifestyle. The opportunity to secure a property could fade quickly if rates drop and competition increases. If you see something you like, why gamble on missing out? With Myrtle Beach prices holding steady and Beaufort Lending’s rates averaging half a percent lower than national lenders, buying now provides both value and opportunity.
Frequently Asked Questions
Are Myrtle Beach home prices expected to drop in 2026?
Most analysts do not predict a major decline. Minor corrections may occur, but steady demand from out-of-state buyers and retirees helps support prices.
Will mortgage rates continue to go down?
Rates may trend lower as inflation eases, but any decline is expected to be gradual. Buyers should focus on overall affordability and plan to refinance if future rates are more favorable.
Is Myrtle Beach still a good place to buy a home in 2025?
Yes. Myrtle Beach remains one of the most affordable coastal markets in the Southeast, with strong long-term growth potential and lifestyle appeal.
Can I buy with zero down in Myrtle Beach?
Yes. Qualified buyers can explore VA and USDA programs or Beaufort Lending’s low down payment options to buy with little upfront cost.
What are the main benefits of working with Beaufort Lending?
Beaufort Lending provides personalized service, fast closings, and rates that are typically 0.5% lower than national averages, helping South Carolina homebuyers save more each month.
