While the coronavirus pandemic has negatively impacted many industries throughout the country, the economic shift caused by the pandemic has actually sparked a large boom in the RV industry. Travelers concerned about the risks of flying are packing their families into RVs and seeking out campgrounds around the country. Additionally, younger consumers are beginning to purchase RVs at a much higher rate. RV parks, RV dealers, and manufacturers have reported spikes in demand during the spring and summer of 2020, and industry analysts say there are many good months ahead.
A Boom in RV Sales
Amidst the sales boom, RV dealers across the country are reporting a huge uptick in first-time buyers. It appears that consumers are looking for the adventure of travel without having to worry about airplanes, cruise ships, or hotels. While most RV owners are interested in leisure travel, there is now a growing trend among families choosing to live in a camper or motorhome full-time. Additionally, the coronavirus pandemic revealed that some states and cities can essentially shut down at a moment’s notice, making the idea of owning a camper and being able to freely move about the country more appealing.
RV Parks in Texas
RV parks throughout Texas have largely remained steady throughout the coronavirus pandemic, unlike many other types of commercial properties. As a whole, occupancy trends in RV parks have stayed strong through the pandemic. For instance, while many coastal area RV parks were slow in late Spring, they were full by the time early summer rolled around when people were tired of being cooped up for months. Understandably, many extended stay RV accommodations throughout Texas have been largely unaffected by the coronavirus as well. After all, RV parks are places that many people call their home. As a result, this asset type has proven to be a more resilient investment than office, retail, or apartment assets during the coronavirus pandemic.
RV Park Sales
If you want to invest in an RV park, or you want to sell an RV park, we would love to help! You can learn more about the RV sales process HERE.