As vaccines are administered and travel resumes, many of us are beginning to plan for those long-awaited vacations we missed out on over the past year. Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The National Association of Home Builders (NAHB) reports:
“Second homes (i.e., homes sold to buyers who are not going to occupy the home year-round, but use it as a vacation home, investment property, etc.) account for 15 percent of new single-family home sales.”
It’s not surprising that there’s an increase in demand for vacation homes. The majority of Americans are realizing they prefer to be around small groups, as shown in a recent survey from The Harris Poll:
“Social distancing taught consumers new things about how they like to socialize; (75%) said, ‘during COVID social distancing I realized I preferred smaller social gatherings at home or at friends’ place.’”
Not only are vacation homes seen as a potentially more pandemic-friendly way to travel and socialize, but they can also serve as an extended home-away-from-home. With more Americans being given the option to continue working remotely or retire earlier than expected, vacation homes can be used year-round. The NAHB explains:
“Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area. More fundamentally, second home demand may also be benefitting by an acceleration of retirement plans, as well as stock market gains.”
The demand for vacation homes has increased and will continue to rise as we head into summer. If you own a house in a destination area and have thought about selling, now is a great time to take advantage of today’s high buyer interest. Let’s connect to discuss your opportunities in our local market.
DRE Lic#01442897
Broker DRE Lic# 00970410
Copyright © 2022 Eric Cornick All Rights Reserved Site design by MyQuali.com
Find homes in these popular destinations
Explore some of the most sought after international destinations for luxury real estate in the world. Our global network provides unrivaled access to distinctive properties in the finest locations worldwide, offering you a wide selection of architecture and lifestyle choices.
Eric Cornick powered by Nick Sadek Sotheby’s International Realty specializes in helping home buyers and sellers in Placer, Sacramento, and El Dorado counties achieve their real estate goals. Search homes for sale in Granite Bay, Roseville, Rocklin, Sacramento, Auburn, El Dorado Hills, and more! Sotheby’s International Realty offers an unparalleled advantage in marketing your home for sale both locally and internationally. © 2021 Nick Sadek Sotheby’s International Realty. All rights reserved. Each Sotheby’s International Realty Office is Independently owned & operated. CA BROKER DRE#00970410 Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby’s International Realty, the Sotheby’s International Realty logo, “For the Ongoing Collection of Life” and RESIDE are registered (or unregistered) service marks owned or licensed to Sotheby’s International Realty Affiliates LLC. The information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to our franchisees (who in turn supplied it to us), we can not represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. All dimensions are approximate and have not been verified by the selling party and can not be verified by Sotheby’s International Realty Affiliates LLC. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information. This Web site is not the official Web site of Sotheby’s International Realty, Inc. Sotheby’s International Realty, Inc. does not make any representation or warranty regarding any information, including without limitation its accuracy or completeness, contained on this Web site. Copyright 2004-2021 Sotheby’s International Realty, Inc. All Rights Reserved. This webpage was intended for viewing in the United States of America only. If you visited this page from another country and would like to learn more about our privacy and usage policies, please contact us at the number above.