• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Missouri Real Estate News

Trends & Insight for Missouri Home Buyers and Sellers

MISSOURI REAL ESTATE NEWS
Trends for MO Home Buyers & Sellers

  • Home
  • Rentals
  • BUY HOME
    • INSPECTIONS
    • INSURANCE
    • MORTGAGES
  • SELL HOME
  • HOME IMPROVEMENT
  • INVESTING
    • COMMERCIAL
  • NEWS & TRENDS

Second-Home Sales Up 200% During Pandemic

July 27, 2022 by Editor

While the pandemic caused many people to reassess their living situations as the virus began ravaging the country during the first quarter of 2020, many made hard decisions, some went the complete opposite way by doubling down and purchasing a second home. 

According to Pacaso, a technology-enabled real estate marketplace, the trend of people buying second homes has been so popular that it has increased 235% since the first quarter of 2020. This type of transaction increased 25% alone during the second quarter of 2022. 

“Overall, luxury real estate exceeded expectations and outperformed the rest of the second home category and the overall real estate market in Q2 2022,” said Austin Allison, Pacaso Co-Founder and CEO. “Despite a rising interest rate environment and growing concerns of a recession, it is clear that demand for this type of asset remains strong.”  

According to second home mortgage rate lock data analyzed by Pacaso’s research team, sales of luxury second homes and investment properties—which are defined as homes sold for $1 million or more that are designated for seasonal and/or recreational use—increased nearly 25% year-over-year during the second quarter of 2022 and approximately 235% compared to Q1 2020, prior to the pandemic intensifying in the U.S. 

“Affluent consumers tend to be more insulated from the impacts of an economic downturn,” continued Allison. “Some consumers will look to real estate as a more stable place to park their money during times of increased market volatility. Although they may trim their budgets, this group is less likely to completely drop out of the market. As a result, demand for luxury real estate remains strong, but the acceleration of home price appreciation for this category will likely continue to slow as we saw during Q2 2022.” 

Click here to read Pacaso’s report in its entirety. 

Originally Appeared Here

Filed Under: COMMERCIAL, dsnews, NEWS & TRENDS

Primary Sidebar

Editor Picks

BRANSON’S OZARK MOUNTAIN CHRISTMAS SEASON IS UPON US

BRANSON’S OZARK MOUNTAIN CHRISTMAS SEASON IS UPON US

Ozark Mountains Provide Magical Backdrop for Unforgettable Holiday ExperiencesWhen it comes to celebrating Christmas, no place does it quite like Branson, Mo., where the entire town takes on a … [Read More...] about BRANSON’S OZARK MOUNTAIN CHRISTMAS SEASON IS UPON US

Why rural Missouri schools and hospitals might become homebuyers

Why rural Missouri schools and hospitals might become homebuyers

(The Beacon) – In Kirksville, Missouri, an entire floor of the hospital sits empty. The community could easily fill beds with patients — if only it could hire nurses and other workers to tend to … [Read More...] about Why rural Missouri schools and hospitals might become homebuyers

Kansas lawmakers pass tax cuts; send bill to Gov. Kelly; stadium debate up next

Kansas lawmakers pass tax cuts; send bill to Gov. Kelly; stadium debate up next

 TOPEKA, Kan. — Kansas legislators cleared the way Tuesday for a debate on trying to lure the Kansas City Chiefs from Missouri by approving broad tax cuts that many lawmakers said they needed … [Read More...] about Kansas lawmakers pass tax cuts; send bill to Gov. Kelly; stadium debate up next

Missouri’s Top 15 Places to See This Summer – Missouri Magazine

Missouri’s Top 15 Places to See This Summer

 When trying to decide on things to see or do in Missouri, try taking the road less traveled and discover some unique places that you may not see anywhere else. Whether it be historical, … [Read More...] about Missouri’s Top 15 Places to See This Summer

Zombie Foreclosures Shrinking – The MortgagePoint

Zombie Foreclosures Shrinking – The MortgagePoint

Releasing its 2024 second-quarter Vacant Property and Zombie Foreclosure Report, ATTOM Data has revealed that that 1.3 million (or 1,289,387 to be exact) residential properties in the country sit … [Read More...] about Zombie Foreclosures Shrinking – The MortgagePoint

Copyright © 2025 · Missouri Real Estate News · About/Contact · Privacy Policy · Terms & Conditions · MidMO Business