Sales of investment and vacation properties increased in the Mid-Atlantic region in May, accounting for a 32% share of all sales, up from 11% in the same period last year, according to listing agents.
The majority of sales were in Pennsylvania and New Jersey, where buyers snap up properties for both pleasure and profit. Low mortgage rates and a strong stock market are driving the boom in second-home sales.
listing agents in the Mid-Atlantic region reported the following:
* 32% of sales were second homes or investment properties, up from 11% in the same period last year
* Most sales were in Pennsylvania and New Jersey
* Low mortgage rates and a strong stock market are driving the boom in second-home sales
You can read this full article at: https://www.housingwire.com/articles/in-the-mid-atlantic-more-sellers-are-listing-second-homes-and-investment-properties/(subscription required)
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