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%.