Nationally Second Home Sales Decline/buyers optimistic

The National Association of Realtors Investment and Vacation Home Buyers Survey for 2009

reported sales of vacation homes declined 30.8 percent last year, while investment

homes sales fell 13.2%  According to the NAR's chief economist, Lawrence Yun,

"We expected vacation- home sales to fall given the impact of a declining economy

on discretionary purchases."  On the positive side, 80 percent of second home buyers

are confident that now is a good time to buy.  Because of a large segment of the

population is in the prime age for buying a vacation or investment property,

Yun believes the demand for second homes remains favorable.  Some reasons

cited for buying a vacation home:  vacation or family retreat 89%, diversify investments

27%, provide rental income 27%, primary residence in future 26%, for use by a family member,

friend, or relative 17%.

10:30 AM - Jun. 18, 2009 - comments {0} - post comment
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