Owning a second home has increased in popularity, particularly in Maine, which ranked highest for second-home ownership in 2019. The number of second-home transactions, especially in coastal areas, continues to rise, driven by economic uncertainty and inflation. Notable increases in property listings signal many owners are cashing in on their investments, aiming for liquidity amidst potential financial volatility. Real estate agents report a surge in listings from key vacation areas, showing a broader trend of homeowners rebalancing their assets in challenging economic times.
Owning one home is the American dreamâbut owning a second home has become the norm in the past decade among both investors and luxury buyers.
We're hearing from people who are looking to reduce exposure, cash out second homes, or rebalance their investments. With economic volatility looming, many want the comfort of liquidity.
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