A sharp drop in investment-home sales offset a record number of vacation-home purchases to bring down the overall share of second-home purchases in 2006, the National Association of Realtors reported Monday. The share of second-home sales was 36% of all existing and new residential real estate transactions in 2006, down from 40% of all sales in 2005, the group said. Vacation-home sales went up 4.7% to a record 1.07 million homes in 2006 from 1.02 million in 2005, driven largely by demographic trends. Meanwhile, investment-home sales dropped 28.9%, falling to 1.65 million homes in 2006 from 2.32 million in 2005, according to the group's annual survey of investment- and vacation-home buyers.
Truckee Real Estate
Tahoe Donner Real Estate
Midamerica Referral Network - Kimberling City, MO
Thanks Bob. This reflects somewhat what a check I ran last week on our local Stats. There was a 50% drop in the first 6 months this year from the same six months 2006.
Jul 27, 2007 07:02 AM
Fairfield County Home Inspection LLC - Fairfield, CT
Residential & Commercial Inspections in
Westside Properties - Venice, CA
Malibu to the Marina Real Estate
Thanks for the helpful information Bob! It's sad to hear that the foreclosure rate is up 800%
Jul 27, 2007 07:54 AM
Rainer
43,316
43,316
Davis Yoder Group
Experience isn't expensive, it is priceless
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