There has to be good news somewhere in the real estate galaxy if you look hard enough. Finally we found some. Vacation home sales moved up 4.7% in 2006, as reported by NAR. The sector now consists of 14% of all home sales, improving from 12% in 2005. The nation's demographics are driving the market. The buyer usually is in his mid 40s or over, with a median household income a little better than $100,000. This is generally considered the prime buying age. Besides using the property as a vacation home, there were other practical reasons to the acquisition. Some 28% said they would use it as a primary residence after retirement, others saw tax benefits in it and 18% had plans to rent the property out. Some other numbers stand out from the survey and are worth commenting on. Almost a third ...
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