Vacation Home Sales Hit Record in 2006
The National Association of Realtors recently reported these stats:
- Vacation home sales rose 4.7% to a record 1.07 homes in 2006
- 36% of homes purchased were second homes
- Reasons people bought second homes (in order of popularity):
- They wanted a vacation or family retreat
- They were looking to diversify investments
- They planned to live in it full-time in the future
- They liked the tax advantages
- They bought it for a friend or family member to use
- They had extra money
- They plan on using it as a rental property
Posted: May 2nd, 2007 under Real Estate.
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