As the market continues to shift, one industry trend seems to be making continuous waves: vacation homes.
With low prices and mortgage rates still available in most parts of the country, affluent buyers—or those who have always dreamed of a cabin in the mountains—are making their move and purchasing second homes to be used as vacation getaways.
According to the National Association of REALTORS (NAR), sales of investment and vacation homes jumped in 2011, with the combined market share rising to the highest level since 2005.
NAR’s 2012 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2011, showed vacation-home sales rose 7 percent to 502,000.
It’s easy to understand why the vacation home market would be on the…
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