Neighborhoods that saw the biggest spikes in prices during the pandemic

Rental prices for vacation homes and second homes surged as the coronavirus pandemic forced people to stay closer to home. In some cases, rental prices increased by more than 50%.

-Home values in many of the most popular vacation destinations also saw significant growth, with increases of up to 25% being reported in some areas.

-The increase in demand for vacation rentals and second homes is likely to be a short-term trend, as people return to their normal routines once the pandemic subsides. However, it could have a longer-term impact on the market for these types of properties.

Rents and home prices continued their upward trajectory in April, growing by more than 25% year over year. The newest hot spot for second homes has been Arizona with prices up 26%.

Home prices in Phoenix, Cape Coral and Florida’s second-home markets are increasing at a rapid rate. Rental rates have gone up 25% year over year while sale values continue to rise – all with little sign of slowing down anytime soon!

In the second half of 2020, prices began growing faster in remote destinations like Hawaii and Alaska. By early 2021 they were up 10% from a year ago while other states saw even higher increases – some as much 24%. This was due to an increase in demand for “second homes” by Americans who wanted something more luxurious than their primary residence or lived too far away from any kind land use restrictions that would allow them easy access during work hours without having commute long distances each day just so there family could enjoy time together.

The market for second homes is improving, and as a result the supply of available properties in these vacation spot has increased. This can be seen by looking at its lowest point during last year’s pandemic when there were only 1% more than what was listed this time around – but now after three months with an increase double that amount!

With the pandemic having caused many people to live out their lives remotely, Sun Belt metros have seen a rise in popularity as both retirement homes for those who want peace and quiet or temporary residence until they find what suits them best; but also among permanent residents looking at buying property near work.

The pandemic has had a clear and significant impact on the real estate market, with prices rising in areas that are seen as second-home hotspots. Whether you’re looking to invest in property or are just curious about how the market is changing, this data provides some valuable insights into where people are buying and selling homes right now.

The data suggests that the second-home market is seeing outsized growth in rental and home prices during the pandemic. This could be an indication of increased demand for secondary homes as people look to get away from crowded areas or find more space. It will be interesting to see if this trend continues in the coming months.