Millennials are Renting in Cities but Buying Country Houses

13 Apr

MainStreet – Farran Powell

Buying a vacation home is not just for soon-to-be-retirees. Younger buyers, too, are now looking to the second home market as a real estate investment opportunity and in some cases buying a vacation home first before their primary residence.

"A large number of Millennials are coming into the market," said Carl Shepard, co-founder of HomeAway, the parent site that operates vacation rental sites VRBO.com and VacationRentals.com.

The National Association of Realtors (NAR) finds that the average age of a vacation home buyers dropped to 43, compared to 61 years from over a decade ago in 2003 when the organization first started collecting data for its annual Investment and Vacation Home Buyers Survey.

>> Read More: https://www.mainstreet.com/article/millennials-are-renting-in-cities-but-buying-country-houses

Visit my website at: www.juliecnichols.com or contact me with any of your home loan questions.

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