As further evidence of the housing recovery, vacation home sales are up again in 2013.
The National Association of Realtors 2014 Investment and Vacation Home Buyers Survey, “shows vacation-home sales jumped 29.7 percent to an estimated 717,000 last year from 553,000 in 2012. Investment-home sales fell 8.5 percent to an estimated 1.10 million in 2013 from 1.21 million in 2012. Owner-occupied purchases rose 13.1 percent to 3.70 million last year from 3.27 million in 2012. The sales estimates are based on responses from households and exclude institutional investment activity.”
Read the NAR’s News Release: Vacation Home Sales Surge in 2013, Investment Property Declines.
Read an NAR economist outlook blog: Highlights: 2014 Investment and Vacation Home Buyers Survey.