Here’s what to know about the vacation home markets in New England.
The New England vacation home market is distinct from the primary residence one. Vacation home buyers tend to be a little older and wealthier, and unlike primary residence shoppers, they want to get away from work, not be closer to it. But New England real estate agents agree that the markets today are similar in one frustrating way: Inventory is historically low.
In every New England state, agents we interviewed said that there is plenty of demand for the low supply of vacation homes, which puts upward pressure on prices despite higher mortgage interest rates. That may be why there were more cash buyers in 2022 than in any previous year, they said.
