Pennsylvania Has One of the Best Places to Invest in Winter Vacation Homes
It’s beginning to feel a lot like Christmas, and that means snow is on the way. Pennsylvania is a beautiful state in the winter. I personally don’t care for snow and cold, but it is lovely, and you’ll find plenty of it in Pennsylvania, especially as you go north.
Now, vacation management rental platform Vacasa has named a Pennsylvania town one of the best places to invest in a winter vacation home. The news was reported by GoBankingRates.com, which states, “It’s a winter wonderland out there, and with it comes a whole market of winter vacation homes just ready to be scooped up across the country — particularly in mountainous states and the Northeast where the season’s bounty is on full display.”
Daned Kirkham, Vacasa’s senior director of real estate, tells Go Banking Rates that the list has seven new entries for this period. “Over half of the destinations on this year’s list are newcomers to our report, which is in part due to the cap rate compression we’ve seen in many top markets as home prices trended up in 2021 and early 2022,” he says. “However, market dynamics have shifted in recent months for both primary and second home real estate. Interest rate hikes since last spring are causing the once red-hot housing market to cool off a bit giving buyers renewed negotiating power.”
Poconos, Pennsylvania, with a median home sale price: $298,067, made the cut. It’s a road trip, but perfect for a weekend home. “This is ski town country for the Northeast, which makes the fact that median home prices are still under $300,000 in this destination super shocking,” they state. “If you love to ski, or are looking to rent to individuals and families with a passion for the sport, buying in this region is key since there are several mountain peaks to take advantage of, all with well-maintained trails.” Find the full article here.
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