As frustration mounts with the prices and process of buying and owning a home in New York City, it appears a growing number of owners are looking to purchase second homes outside the metro area. In response to this demand, William Raveis Real Estate has launched a new division — dubbed Raveis Escapes — focused on this buyer/owner-type.
- Brokerages continue to expand their reach as potential buyer criteria changes.
- A number of current owners in NYC are looking to buy soon in some smaller cities, with transactions likely to involve luxury homes.
- NYC buyers looking to purchase second homes indicates they've built up significant equity in current homes.