Second Home Market

Real Estate Agent with Davis Yoder Group, Coldwell Banker Realty BRE# 01117410, 00705038
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.

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Joan Snodgrass
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 #1
Peter M . Christopher
Fairfield County Home Inspection LLC - Fairfield, CT
Residential & Commercial Inspections in
Welcome to A/R. You will find this is a great place to make contacts.
Jul 27, 2007 07:42 AM #2
Dom Naidoo
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 #3
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