They want the recreational opportunities. They want to enjoy a slower pace of life. Vacation homes are a promising niche for realtors. According to Realtor magazine, the number of second homes was expected to jump 6.2 percent from 1998 to 1999. Americans were thought to own a projected 6.4 million of these properties, according to the U.S. Census Bureau.
Most experts attribute the trend to aging baby boomers and a robust economy.
Seniors are particularly interested in these properties, as they seek prime recreational opportunities in warm climates. Second homes account for 3.1 to 7.4 percent of national housing stock, as reported by the Real Estate Finance Journal. Nearly half these homes are in the south, with 21 percent in the west. Some empty nesters begin by downsizing their primary homes with the idea of retiring to their vacation property permanently. At Lake Chelan, realtor Bonnie Cannon is part of an area-wide effort to attract these populations.