According to a recently released survey by the National Association of Realtors, baby boomers are driving the vacation home market.
Here are a few highlights of the study:
• The typical buyer is 55 years old, with a household income of $77,000
• 71% have no children under 18 living at home
• 86% do not rent out their vacation home
• 83% of the homes purchased were single family houses
In 2012, the most recent year for figures, 13% of all homes bought in the US were second homes. That is a 19% increase over 2011.
So the market for second homes, especially in warm weather areas or beach communities, is very competitive. The continued low interest rates make qualifying for a home loan easier than ever.
These two factors bear out the recent home buying climate in Florida.
Vito Bauer-Principal Realtor “Trusted Source for Homes in Southwest Florida”
Cell 239.777.7080, email: Vito.Bauer@BauerInternationalGroup.com
BAUER INTERNATIONAL GROUP – YOUR LUXURY NAPLES FLORIDA HOME DESTINATION
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