Why This Is a Great Year to Sell Your Vacation Home

Dated: April 15 2021

Views: 121

Why This Is a Great Year to Sell Your Vacation Home

Why This Is a Great Year to Sell Your Vacation Home | MyKCM

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.

Blog author image

Beth Ross

Having moved to SC from CA in 2005 I have found this was the best decision I could have ever made. I love the areas of the Grand Strand and Pee Dee and find new places to explore every day. I was a ....

Latest Blog Posts

Will Home Prices Keep Rising?

HOMEBUYER'S ADVICE  Will Home Prices Keep Rising?Homebuyers are getting a lot of mixed messages this year. Interest rates are near record lows, but housing prices are still rising. So

Read More

Home Sales Boom in Myrtle Beach and entire Grand Strand

If you're thinking about selling your home:1️⃣ STOP what you're doing 2️⃣ Follow this link to instantly calculate your home’s value in today’s market based on recent sales in The

Read More

Why This Is a Great Year to Sell Your Vacation Home

Why This Is a Great Year to Sell Your Vacation HomeAs 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

Read More

April 2021 Myrtle Beach Real Estate Market

In the past 7 days REALTORS in the Grand Strand have place over 800 homes and condo's under contract. If you are looking in this fast paced market, work with REALTOR who can help you put your best

Read More