When the housing market falls, vacation homes fall harder. They’re discretionary purchases that can be put off for another day. That day may be here or near. Sensing a possible bottom, second-home buyers are returning, say real estate agents in vacation spots from Cape Cod to Lake Tahoe.
Nationwide, vacation sales rose 7% in 2011 to 502,000 homes, according to the National Association of Realtors. They made up 11% of total sales. And commentary from the NAR’s resort and second-home committee indicates continued momentum this year, says NAR spokesman Walter Molony………………………………………..Full Article: Source