Monday, 24 August 2020 13:57

Poconos rank third in top spots to buy a vacation home in U.S.

Source: Philadelphia Inquirer

by Katie Park, Posted: August 21, 2020

The Poconos ranked among the top markets for buying a vacation home this year, according to a report released Friday by the rental management company Vacasa.

The forested area about two hours from Philadelphia was the only region in Pennsylvania that broke into the list of the most popular 25 vacation home destinations, according to the report’s data. The Poconos, ranked third on the list and with a median home price of around $200,000, was preceded by Cape Hatteras, N.C., and Big Sky, Mont.

Gatlinburg, Tenn., a resort town nestled along the edge of the Great Smoky Mountains, ranked just after the Poconos. Sevierville, Tenn., less than 15 miles from Gatlinburg, ranked first in Vacasa’s list of most popular vacation home spots last year.

During the coronavirus pandemic, vacation home sales boomed in some locations — the Jersey Shore among them — as did vacation rentals once Vacasa said states lifted some safety regulations and people gained more confidence to travel.

“[P]eople were eager to travel and rebooked their vacations at an almost alarming rate,” Vacasa said in its report. It noted that the sharp influx of rental bookings started to compensate for the sharp drop of rental bookings in March and April, when the majority of states temporarily ordered recreational activities shut down.

Even as entertainment venues were allowed to reopen in late spring, many people have opted for outdoor activities, where it is easier to social-distance and lessen the chance of transmitting the coronavirus. Several of the vacation home hubs Vacasa listed are in or near the scenic places and within 2½ hours from a major city.

“In a post-pandemic environment,” according to the report, “we expect nearly all markets to rebound in terms of both rental rates and occupancy.”

Nate

Disclaimer: The ideas expressed below are the personal thoughts and opinions of Nate Covington and do not necessarily reflect the position of Barrett Township or the Board of Auditors.

 

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