Sometimes people get confused about the real estate market. They don’t know whether it’s strong or weak, good or bad, or just plain confusing. It’s hard to find just the right indicator to see the best way to plan your path. And if your financial security is tied to the market you eventually begin to get that familiar knot in your stomach.
So what’s an innocent RE investor to do? Where do we find clear proof of what’s happening? The answer is really simple:
More specifically, vacation homes. If an economy is struggling, then not only will less people be taking vacations. But even the people who can afford to take a vacation will hold off because of their perception of how the market is doing and what the future holds. The same is true for vacation homes.
If people feel confident enough in the strength of the market to actually purchase a vacation home, it’s a clear sign of underlying foundations and consumer perception, both key ingredients in a healthy economy. And what do you think we saw last year?
Sales of vacation homes up 30%. 717,000 homes sold. 13% of the real estate market being vacation sales.
Those are striking numbers, the highest since 2006. It’s a stat worth paying attention to. So if you’re in the market for a vacation home, buy now before prices rise. If you’re in the market for a vacation home investment, buy now! Bye now!