fromNational Mortgage News
13 hours agoVacation homes and seasonal properties drive up rural prices
Between March 2020 and March 2023, appreciated 36.1% in rural areas, more than doubling their rate of growth in the preceding three-year period, according to analysis conducted by researchers at the Harvard Joint Center for Housing Studies. In areas with high percentages of seasonal second homes and vacation properties, the surge was even more pronounced at 46.8%, rising from 17.4% from 2016 to 2019, a new working paper by Harvard JCHS' Alexander Hermann and Peyton Whitney finds. Alongside the appeal of nearby natural attractions, such as lakes and mountains, the communities also offer robust infrastructure aimed at supporting traffic flows brought by the tourism industry.
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