Vacation home sales cooled in 2015 but remained at the second highest amount in nearly a decade, and investment purchases increased for the first time in five years, according to an annual survey of residential homebuyers released by the National Association of Realtors.
The median sales price of both vacation and investment homes surged in 2015.
NAR’s 2016 Investment and Vacation Home Buyers Survey, covered existing- and new-home transactions in 2015 found that :
-Vacation home sales last year declined to an estimated 920,000, down 18.5 percent from their most recent peak level of 1.13 million in 2014.
-Investment home sales in 2015 jumped 7.0 percent to an estimated 1.09 million from 1.02 million in 2014.
-Owner occupied purchases jumped 15.9 percent in 2015 to 3.74 million from 3.23 million in 2014 ; the highest level since 2007.
NAR chief economist, says vacation sales still came in at the second highest amount since 2006.
