Buying Frenzy Heats Up in Second-Home Market
Due to the pandemic, more people are working from home, and many of them are choosing to to do so from their second or vacation homes.
For those type of homes, sales increased 48% on average year over year in the third quarter, according to NAR’s Q3 Commercial Real Estate Market Survey. Areas with the biggest boosts were in the far Northeast; the Upper Midwest, including Minnesota, Wisconsin and Michigan; and the Southwest, mostly in Arizona, Colorado, New Mexico, and Utah.
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