Baby boomer continue to buy their second homes here in sunny Florida.
Why not? We have warm sandy beaches, great weather and plenty of golf and resorts to keep retirees busy and engaged in activity.
Florida has been a top vacation home market for over 100 years!
Many people come here for a vacation and decide to buy a second home here.
Most of the people moving here come from high taxed states like New York and New Jersey. Getting out of the snow when you are in your 60's and 70's is also a big reason to buy here.
Canadians also buy here in Florida. Although because of the dollar, they have not been flocking here as they normally do.
There is an increased interest from Chinese home buyers.
Baby boomers keep fueling the Vacation Home and second home markets here in Florida.
This is a good thing, since many of our foreign nationals ran into some tough times in their economies.
2007 was the real estate bust here in South Florida. So that means the highest home sales were in 2006, because of the real estate bubble.
2015 happened to come in second place after 2007 for the highest number of second home sales, vacation homes according to the National Association of Realtors® 2015 Investment and Vacation Home Buyers Survey.
Many baby boomers are getting ready to retire and they are going to "propel the demand for second homes" ( Lawrence Yun)
The prices of homes are also on the rise because there are more second home buyers than their are homes to sell to them.
Vacation home buyers property style breakdown:
- 58% Single Family Homes
- 25% Condo
- 13% Townhouse
Vacation homes ( Second Homes) Locations:
- 40% Beach Area
- 19% Hill or Lake Front
- 16% Country
16% of the home buyers buy their second homes for future retirement.
If you are planning on buying a second home here in South Florida, contact us and we will find your perfect second home! Call Nestor at 561-753-0135.