Strong Vacation Home Sales Surpass 2006 Peakadmin / 0 Comments /
Vacation home sales reached record high levels in 2014 according to a new report released this week by the National Association of REALTORS®. With an estimated 1.13 million vacation homes sold last year, vacation home sales experienced a 57.4 percent increase over 2013 sales of just 717,000 properties sold. Lawrence Yun, chief economist for NAR, attributes the dramatic increase in part to stock market growth and improved confidence among affluent buyers in the housing market. He also says the boost reflects an increase in the “numbers of baby boomers moving closer to retirement and buying second homes to convert into their primary homes in a few years.” In contrast, the same report also revealed that investment home sales decreased by 7.4 percent.
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Image credit: Bart Speelman