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Timing is everything. When it comes to buying a second home, that time is now.
Demand for vacation rentals, also known as short-term rentals, has skyrocketed since last year, spurred by travelers wanting to avoid contact with strangers in shared hotel spaces. Now, with the growing availability of COVID-19 vaccines, more travelers are penciling in future getaways. Consider these figures:
In a recent Vacasa survey of U.S. travelers, 59% said they plan to take a vacation in spring 2021. Plus, 52% said they would stay in a vacation rental more often in the future.
A recent National Association of Realtors survey found there was a 16% increase in second home sales in 2020.