As remote work has grown and more Americans are no longer bound down to a long commute, more people are being drawn to the idea of a second home. Builders are responding to the uptick in interest.
Single-family construction in second-home markets rose at a 13.6% average rate in the third quarter annually compared to a 10.5% pace in other counties, according to data from the National Association of Home Builders.
Multifamily development in second-home markets is also on the rise. Multifamily development increased 11.1% in second-home counties while it declined by 0.9% in other areas during the third quarter, according to the NAHB.
Find the story online here: Housing Construction Ramps Up in Second-Home Markets