Demand for Pools, Hot Tubs Surging Due to COVID-19
March 30, 2021
New in-ground residential pools saw a 21% uptick in 2020 compared to 2019. States like Arizona, Texas, and Florida saw permits rise by up to 30%, Janay Rickwalder, a spokesperson for the Pool & Hot Tub Alliance, an industry research group, told The Escape Home.
“This is historic growth for the industry—the next closest period was in 1983 with 16% growth over a much smaller base,” Rickwalder says.
Hot tubs are also in demand, with some areas reporting a 400% uptick. Manufacturers are reporting a six-month wait to fulfill hot tub orders. On pools, Pool & Hot Tub Alliance members report they’re already contracted out with new orders to fulfill even into 2022.
Since the pandemic, real estate professionals are reporting pools have become a major selling point. Pools also have become one of the most popular keyword searches on real estate listing sites.
“The demand is there—a result of people realizing the quality of life and how having a swimming pool right outside their backyard really creates a vacation where you know you have total control,” Kelly McKelvey, spokesperson at Northeast Spa & Pool Association, told The Escape Home.
Pools can also make a difference for investor properties. For Airbnb, VRBO, and short-term rental properties, homes with pools may have the advantage. Sara Jennen, a real estate investor in Cabot, Ark., reports that she’s been able to charge about $200 more per night for her property with a pool than a comparable property that does not have one. Further, Jennen says she’s made around $20,000 more this year on her short-term rental and a portion of that premium she credits to having a pool.
A 2019 study conducted by LendingTree found that homes with swimming pools can be valued up to 54% higher than those without one. The median home with a pool was valued at $469,187, while the median home without a pool was valued at $305,152. The highest premium for a swimming pool was found in Memphis, according to the study.
Source: Demand for Pools, Hot Tubs Surging Due to COVID-19 REALTOR® Magazine (March 26, 2021)