2012 Vacation Home Sales Rose 10.1% Over 2011

Vacation home sales in 2012 rose 10.1% over 2011 sales according to the National Association of Realtors (NAR) this week. What is more, the median investment-home price for vacation homes was $115,000 in 2012, a 15% increase from 2011, thus resulting in “a greater number of more expensive recreational property sales.” NAR’s chief economist, Lawrence Yun, attributed the increase in demand for vacation homes to the strengthening of the stock market. He stated, “We had a very strong stock market recovery, which helps more people in the prime ages for buying vacations homes. Attractively priced recreational property is also a big draw.” In both 2011 and 2012, vacation home sales made up 11% of total transactions. http://bit.ly/Xupkjx

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