Why This Is a Great Year to Sell Your Vacation Home

By
Real Estate Agent with Champion Real Estate Group 0561240

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.

Its 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 todays high buyer interest. Lets connect to discuss your opportunities in our local market.

 

 

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Comments (4)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Shayne, we are seeing some landlords selling their rentals too, with such high prices right now.

Apr 19, 2021 07:06 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Shayne and you are right this is the year to sell you vacation home or retire in it and sell your main home.

 

Apr 19, 2021 08:22 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

The vacation homes may be just the respite from crowds and a way for sellers to hide after they sell their big home

Apr 19, 2021 05:28 PM
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Great information.  Thanks for sharing and make it a wonderful day!

Apr 20, 2021 06:50 AM