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U.S. Vacation Home Sales Reach Record-Setting High in 2014

Based on a new report by the National Association of Realtors, U.S. vacation home sales boomed in 2014 to above their most recent peak level in 2006, while investment purchases fell for the fourth straight year.

NAR's 2015 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2014, shows vacation-home sales catapulted to an estimated 1.13 million last year, the highest amount since NAR began the survey in 2003. Vacation sales were up 57.4 percent from 717,000 in 2013.
Investment-home sales in 2014 decreased 7.4 percent to an estimated 1.02 million in 2014 from 1.10 million in 2013. Owner-occupied purchases fell 12.8 percent to 3.23 million last year from 3.70 million in 2013. The sales estimates are based on responses from nearly 2,000 U.S. adults who purchased a residential property in 2014, and exclude institutional investment activity.

Source : worldpropertyjournal.com