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Real Estate Briefing - Categorized | Emerging Trends, Investment more

Vacation home buyers return, pick pricier properties

Posted on 15 June 2012

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


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