Mountain Resort Market Outlook
MOUNTAIN RESORT MARKET OUTLOOK State of the Mountain Resort April 5, 2018 Adam Ducker, Manager Director INTRODUCTION 1. NATIONAL SECOND HOME MARKET 2. MOUNTAIN RESORT RESIDENTIAL MARKET 3. LODGING AND HOSPITALITY 4. RETAIL TRENDS 5. PRODUCT PROFILES 6. WHAT'S NEXT FOR MOUNTAIN RESORT TOWNS Mountain Resort Market Outlook | April 5, 2018 | 2 NATIONAL SECOND HOME MARKET SEASONAL HOUSING MOUNTAIN REGIONS AS DOMINANT SEASONAL MARKETS PERCENTAGE OF HOUSING FOR SEASONAL USE, U.S. COUNTIES; 2016 KEY >40% 30-40% 20-30% 10-20% <10% Source: American Community Survey, US Census; RCLCO Mountain Resort Market Outlook | April 5, 2018 | 4 VACATION PROPERTIES PARTICIPATE IN HOUSING REBOUND, ALTHOUGH LESS SO RECENTLY Sales Volume by Property Use; 2004-2016 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 Sales Volume (Thousands) Volume Sales 1,000 0 PRIMARY RESIDENCE VACATION INVESTMENT TOTAL PROPERTIES PROPERTIES 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: NAR; RCLCO Mountain Resort Market Outlook | April 5, 2018 | 5 WILL PRICES SURPASS PREVIOUS PEAK? Median Sales Price by Property Use; 2004-2017 250,000 230,000 210,000 190,000 170,000 150,000 130,000 110,000 90,000 PRIMARY RESIDENCE VACATION PROPERTIES INVESTMENT PROPERTIES Source: NAR; RCLCO Mountain Resort Market Outlook | April 5, 2018 | 6 SECOND HOME OWNERSHIP SPANS INCOME LEVELS, HIGH END HAS STRUCTURAL EXPANSION Percent of Households with Other Residential Real Estate by Income Percentile; 1989-2016 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Less than 20 20–39.9 40–59.9
[Show full text]