Real estate agents are forced to lower rates because of summer rental house vacancies.
Latest Sign in Summer-Home Markets: Vacancy
In summer-rental spots around the country, a number of houses sit vacant and owners may be ready to make a deal. Many agencies say they are offering discounts for the last two months of the season. Prices have dropped by as much as 25% in Cape Cod, Mass. In New Jersey's oceanside-resort towns, where rental volume has fallen about 15% since 2003, Childers Sotheby's International Realty is giving discounts of as much as 25% for some homes. In South Carolina, Hilton Head Rentals & Golf has cut 15% to 20% off its remaining one-to-two-bedroom listings.
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