• Skip to main content
  • Skip to primary sidebar
  • Home
  • Ask A Question
  • Find Your Next Home
Real Estate Questions and Answers

Real Estate Questions and Answers

Why This Is a Great Year to Sell Your Vacation Home

April 15, 2021 by Rick Landuyt

Why This Is a Great Year to Sell Your Vacation Home | Simplifying The Market

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.”

Bottom Line

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.

Filed Under: For Sellers, Housing Market Updates, Luxury Market

Primary Sidebar

Ask Your Real Estate Question

Recent Posts

  • The One Thing Every Homeowner Needs To Know About a Recession
  • How Homeownership Can Bring You Joy
  • Why Rising Mortgage Rates Push Buyers off the Fence
  • If You’re a Homeowner, You Have Incredible Leverage When You Sell Today
  • Should You Update Your House Before Selling? Ask a Real Estate Professional. [INFOGRAPHIC]

Categories

  • Baby Boomers
  • Buying Myths
  • Demographics
  • Distressed Properties
  • Down Payments
  • First Time Home Buyers
  • For Agents
  • For Buyers
  • For Sellers
  • Foreclosures
  • FSBOs
  • Gen Z
  • Generation X
  • Holidays
  • Housing Market Updates
  • Infographics
  • Interest Rates
  • Luxury Market
  • Millennials
  • Move-Up Buyers
  • New Construction
  • Pricing
  • Questions and Answers
  • Rent vs. Buy
  • Selling Myths
  • Senior Market
  • Short Sales
  • Time-sensitive
  • Uncategorized
COLDWELL BANKER PROFESSIONALS - RICK LANDUYT - 67395 MAIN ST, RICHMOND, MI 48062 - (586) 727-2741