So I was reading what passes for “news” today, and came across this analysis of the real estate market:

Real estate sales on the Grand Strand have taken a dip this year: There were 4,759 home sales January through September, down from 6,865 during the same period in 2007, according to data from the Coastal Carolinas Association of Realtors. Median prices - where half sell for more and half sell for less - dropped 8 percent for single-family houses and 18 percent for condos during that period.

So, let’s see if I understand correctly:

1. The Myrtle Beach real estate market has cooled off - but not ground to a halt. More than 5,000 homes have sold so far this year (as of mid-October).  Good news or bad news? You decide.

2. With bargain hunters on the loose, lower priced homes are selling faster than higher priced homes. But if I have a home correctly valued and it takes a few months longer (than it used to) to sell it, the 8% drop in median prices has no effect on my bottom line.  No 30% drops like in some parts of California or Las Vegas. Good news or bad news? You decide.

3. With the perceived return to value, Myrtle Beach real estate looks even more attractive to potential buyers. Good news or bad news? You decide.