Second Home Splurge Fuels Real Estate Market in New Markets

No longer are the Hamptons, Joshua Tree or Aspen the preferred locales for entertainment industry vacation home buyers. On the radar are Nissequogue, N.Y.; Moreno Valley, Calif.; and McCall, Idaho. Demand skewed to these areas and others as people fled metro regions during the early days of the COVID pandemic in 2020. Vacation homes in the most prime spots — the Hamptons and Coachella Valley’s Joshua Tree and Palm Springs — were snapped up and values jumped and continue to rise (per Realtor.com, in April, up 38.4% in Palm Springs year-over-year). Formerly outlying destinations are in industry buyers’ sights as… Read Full Article