Vacation Home Demand Soars During the Covid-19 Pandemic
Home sales are booming in popular vacation spots, as the pandemic leads more Americans to seek places to work or relax within driving distance of home.
In traditional vacation destinations such as Key West, Fla., Ocean City, N.J., and Traverse City, Mich., online house shopping and pending sales are up relative to the country overall, according to a new analysis by Zillow Group Inc.
Similar to the recent rise in interest for suburban and rural homes that are a car ride from major cities, the growth in demand for homes in vacation towns shows how Covid-19 is reshaping home shoppers’ priorities, said Jeff Tucker, senior economist at Zillow.
“Home shoppers are particularly motivated to shop for a home in these markets because right now they have the freedom to probably work from home in many cases and even have their kids go to school from home,” he said. “They would get a lot more time to actually enjoy the natural amenities in these locations.”
Read the original article on WSJ.com, featuring quotes from Scenic Sotheby’s International Realty agent Jonathan Spears.