No real surprise: Sales for Investment and Vacation Homes have increased in 2011 | GUILD MORTGAGE |
According to the NAR’s 2012 Investment and Vacation Home Buyers Survey, "covering existing- and new-home transactions in 2011 reports investment-home sales surged an extraordinary 64.5 percent to 1.23 million last year from 749,000 in 2010. Vacation-home sales rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010. Owner-occupied purchases fell 15.5 percent to 2.78 million.”
This increase is obviously a sign of people with liquidity making purchases. This increase can reiterate a number of things that have been reported about the market over the last year, etc: (home buyers) investors feel that they are getting bargain deals which may reflect a bottoming or leveling in the real estate market place; a lot of folks are seeing residential real estate as a good investment; rental income is increasing; etc.
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