Palm Springs, Calif., has been a redoubt for snowbirds and show business royalty at least since the 1930s.
Second Home Market Shows Signs of Overheating
March 03, 2015
According to Realtor.com, many markets for second homes are tight, as buyers are unable to find new inventory and are buying tear-downs, dropping the area’s median sales price.
But some markets are an exception, such as San Juan Islands off of Washington’s Pacific coast. An annual survey tracking second-home markets by financial news company Barron found that the 2014 median sale price for $1 million-plus homes was up 3.6 percent.
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