It is not just primary homes that have seen a turn in the real estate market. According to a survey by the National Association of Realtors, vacation home sales were up 57.4 percent from 2013 to 2014. Vacation home sales accounted for 21 percent of all transactions nationwide in 2014.
However, the portion of investment sales fell to 19 percent from 20 percent in 2013.
The outlook is positive for consumer confidence, and the report goes on to say that 85 percent of the respondents believe that now is a good time to buy real estate, and 28 percent say they are likely to buy a vacation home in the next two years.
Where do people want to buy? Well, 22 percent of survey participants say they’d buy in a resort area, and 40 percent are interesting in property at the beach. Now just may be the time to consider buying a vacation home on Hilton Head Island. With the millions of capital improvement dollars invested in its hotels, resorts and gated communities, Hilton Head Island is perfect for the future vacationer. The deep appreciation of our environment, sustainability and natural beauty is what makes Hilton Head the ideal location to own a vacation home. If retirement is in the near future for you, consider buying a vacation home today and begin to make memories with family and friends.
One of my favorite things about living in the Lowcountry is seeing our island guests enjoying their vacations. Whether it is a couple holding hands on the beach, a family on bicycles or a foursome down for a week of golf, it does your heart good to be surrounded by people having a good time and relaxing.
If you are looking to buy or sell real estate, be sure to ask if your agent is a Realtor and a member of the Hilton Head Area Association of Realtors.
Jean Beck is the executive vice president of the Hilton Head Area Association of Realtors.