The housing supply across the country remains very low. While there are many factors coming into play, there’s one that is “close to home” in the Sanibel real estate market: vacation homes.
The same incentives that are increasing housing demand, including an improving economy and low interest rates, are encouraging home owners to buy that second home or hold on to it. The result is, there are many homes that are not for sale or rent and are vacant for a majority of the year.
Recent studies have also found that there is a rising number of houses that are vacant for reasons other than use as vacation homes. Currently, almost 1 million homes are vacant for “personal reasons” compared to about 800,000 a year ago.
Regardless of the exact use of mostly empty homes, many owners see value in keeping additional property in this low interest economy.
Contact one of our knowledgable Sanibel realtors if you’re interested in Sanibel real estate. You can also search our MLS for available properties, or get in touch with our office at 239-272-2411 for general inquiries. Whether you’re buying, selling, or just looking, we’re more than happy to help you find the Sanibel realtor that’s the right fit for you.
Source: "Americans own too many vacation homes, and it's making the 'new housing crisis' worse," -Business Insider
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This article is provided by John R Wood Properties, a full service Sanibel Island real estate agency with people who love where they live as much as what they do. Our Sanibel and Captiva Island realtors have local knowledge and decades of combined experience. They are passionate and dedicated to exceeding your real estate needs.
About the author: Nina Rogers is a writer, designer, and illustrator who grew up on Sanibel Island. As a Communications Content Manager for John R Wood Properties, Nina enjoys keeping people updated with the latest in local news and Sanibel real estate.
