Vacation Home Sales

Written By: Miller and Associates Realty On: 12th April 2013 Under: Market Updates, Real Estate Market

Recent numbers seem to point to a recovery for real estate as a whole and a portion of the market familiar to us here on the coast is leading the way: Vacation Homes.  A sales increase of over ten percent means that vacation homes accounted for around eleven percent of total home sales in 2012 and, obviously, an even larger percentage of sales in our specific area.   There are a few reasons for this, not the least of which being value.  Vacation http://humanrightsfilmnetwork.org/amoxil property is still priced well below pre-recession highs, selling for almost forty percent less, on average, than in 2005.  The stock market has also made a strong recovery, fattening the accounts of many older buyers, and the rate at which investors have been snapping up foreclosures has limited supply in prime areas.  In the end, however, we may be on the tail of this growth period as prices start to rise and the lower-end values become more and more scarce.