Federal banking statistics reported by SiteTech Systems peg the Myrtle Beach metro area with a 29 percent growth in home purchases when comparing 2012 to 2013.
That’s the highest in South Carolina, according to the statistics, just a nudge above the 28 percent growth in the Anderson market.
The Wilmington, N.C., metro topped the Tar Heel state with a 31 percent growth rate.
Wilmington also had about 500 more home purchases in 2013 that the approximately 3,100 in the Myrtle Beach area.
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This year is not likely to see the same rate of growth as home sales have slowed compared to 2013.
Travis Minter, senior vice president and director of mortgage loans for South Atlantic Bank, said he would expect the area’s 2014 growth to be slower or even flat based on his discussions with other of the area’s mortgage bankers.
South Atlantic Bank, though, is a story of its own.
Minter said the bank’s home mortgage business has soared 71 percent this year compared with the same time in 2013.
The reason is because the bank’s new mortgage team has redirected the bank’s focus away from refinancing and into home-buying loans.
Minter noted the growth in actual numbers, which he wouldn’t share, wouldn’t seem as impressive and includes sales from the bank’s offices in Georgetown and Charleston.
But just wait until 2015, he said.
He expects the results will be impressive.