Despite challenges like rising home prices and mortgage rates, second-home investments are flourishing, especially in luxury markets across select regions in New Jersey, Florida, and Massachusetts.
The destinations on this year's list really capture the breadth of the luxury vacation home market... These aren't just weekend getaways anymore, they're lifestyle investments for people looking to create endless cherished memories with friends and family.
Top-ranked Cape May County boasted a 150% ratio of second homes to primary homes. The average price for a second home there was about $1.1 million.
We're seeing strong indications that demand for both primary and secondary homes will continue to grow into 2025, driven by easing mortgage rates and higher purchase applications.
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