Americans are purchasing vacation real estate, second homes and recreational property at a more rapid rate than in recent years. From Bellville to Bastrop, people are once again pursuing farm and ranch property for sale in Texas while the conditions are right. Several market factors can help explain this strong demand and trends point to a continued increase in discretionary real estate spending in the near future. We know a mix of growth in equity markets, pent-up demand, stronger consumer confidence in the real estate market, stronger consumer personal financial health, historically low mortgage rates and more realistic pricing have driven this resurgence in farm and ranch real estate purchases, but who is buying this property?
According to a recent NAR Survey, the following information describes these country property or second-home buyers:
- Their average age is 43 years old
- Their median household income was $85,600
- 33% said they were likely to purchase a vacation home within two years
- More than 8 out of 10 second-home buyers said it was a good time to buy
At Heritage Texas Country Properties, we sell more recreational and farm and ranch real estate in South Central Texas and we are definitely seeing these trends in secondary real estate purchases. In addition to vacation real estate, recreational land has been showing steady growth from the end of 2013 to present. Our analysts have been tracking similar statistics to the NAR report about who is buying these properties, but we have spotted unique characteristics of the recreational and farm and ranch property buyer. Our representational real estate buyers are typically cash buyers and able to put down more than 30% on these transactions or pay 100% cash.
Take a look at our new listings like Sabra The Sabra Ranch where you can enjoy a fantastic Family country home or you can even turn it into an investment property and raise Texas Long Horns. Heritage Texas Country Properties is predicting continued stability, strength and growth in non-urban real estate. These markets were more stable during the recession and have rebounded strongly over the last few years. Stop by one of our 4 office in Round Top Texas, Brenham Texas, Bellville Texas or La Grange Texas and we can discuss what trends we are seeing in the property you own or are interested in considering in the future.