Houses fetch big money in North Myrtle Beach

The number of Americans who signed contracts to buy homes fell in October for the fifth straight month in a row, but things aren't bad everywhere- especially in North Myrtle Beach.

The city has maintained its spot as the second most expensive place in South Carolina to buy a single family home, according to Coldwell Banker's 2013 Home Listing Report.

Michael King, owner of King One Properties, said this isn't really anything new. He's been very busy selling homes in that area for the past year.

"You've got nice developments up there, and it's more of a family draw beach than a lot of the other beaches in the area."

He said the Cherry Grove area has been especially popular lately, and the number of people moving there is only increasing the price of the homes.

"In the Myrtle Beach area, you really cannot rent. But in North Myrtle Beach, you can. So it makes it pretty popular for not only vacationers, but also for the investor users to come in and buy."

King said the average 4-bedroom, 2-bathroom single-family home there will cost you roughly $320,000, and the quality of life the city has to offer is a huge draw for families who choose to move there.

"The beaches don't tend to get quite as crowded as they do down in Myrtle Beach, and you know, a lot of people like that. The baby boomers are our major buyers now and they grew up in NMB and now they're bringing their children and even in some cases, their grandchildren."

He expects the housing boom to go strong for the next 12 months, before taking a slight dip.