The pandemic has created enormous interest in vacation homes throughout the country. Over the past year, many people have bought a second home as a safe escape from the challenges of the health crisis.

With many professionals working from home and many students taking classes remotely, it made sense to see a migration away cities and counties with more vacation destinations.

O Vacation home municipalities report 2021 of National Association of Realtors (NAR) shows that this increase in vacation home sales will continue in 2021.

The report examines sales in counties where "homes seasonal, occasional or recreational vacancies account for at least 20% of the housing stock"and compares this data with the general residential market.

Their findings show: 

  • vacation home sales increased by 16.4% to 310,600 in 2020, outstripping the 5.6% growth in total existing home sales.
  • Vacation home sales increased 57.2% year on year during January-April 2021 compared to the 20% year-on-year change in total existing home sales.
  • House prices have increased more in counties with vacation homes - the average existing price has increased 14.2% in municipalities with vacation homescompared to 10.1% in counties without vacation homes.

This coincides with the data released by Zelman & Associates about the increase in sales of second homes across the country last year.

As the data above shows, there is still a high demand for a second home in 2021, even with the end of the pandemic. Although we may see an increase in the number of second home sellers as life returns to normal, the low supply and high demand will continue to provide these vendors with a good return on investment.

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[mpc_alert preset="mpc_preset_21" disable_icon="true" icon="ti ti-face-smile" icon_color="#f8bf4d" icon_size="28" icon_background_color="#f3f3f3" icon_border_css="border-color:#f8bf4d;border-style:solid;border-radius:0px;" font_preset="mpc_preset_13" font_color="#5555" font_size="18" font_transform="uppercase" font_align="left" content_border_divider="true" content_border_css="border-top:0px;border-right:0px;border-bottom:0px;border-left:0px;border-color:#88d282;border-style:solid;border-radius:0px;" content_padding_divider="true" content_padding_css="padding-top:25px;padding-right:25px;padding-bottom:25px;padding-left:25px;" background_color="#f7f7f7" border_divider="true" border_css="border-top:5px;border-right:0px;border-bottom:0px;border-left:0px;border-color:#f8bf4d;border-style:double;border-radius:0px;" padding_divider="true" margin_divider="true" margin_css="margin-bottom:30px;" mpc_ribbon__disable="true" mpc_ribbon__text="Conclusion"]If you're one of the many people who bought a vacation home during the pandemic, you're probably wondering what this means for you. If you're thinking of selling that house as life returns to normal, you have options. There are still plenty of buyers on the market. If, on the other hand, you want to keep your second home, take advantage! Current market conditions show that it's a good ongoing investment.[/mpc_alert]

Any doubts?

Now that you know a little more about the behavior of the dollar in times of crisis and in times of economic strength, we can help you understand the behavior of the real estate market and consider investing in vacation homes in Orlando. To make the most of all the tips we've given you and go even deeper, you can talk directly to our relationship agents. They are always happy to talk to you to answer any questions you may have about investing in Florida.

In this article we cover Disney's secrets for keeping mosquitoes away from the parks in Orlando. If you want to read more content like what we've covered in this article, just stay tuned here on our blog.

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