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Vacation Days

In yet another sign that the economy may have turned the corner, sales of vacation homes posted big gains in 2013, according to the National Association of REALTORS® (NAR) 2014 Investment and Vacation Homebuyers Survey. Vacation-home sales accounted for 13 percent of all transactions last year, the highest market share since 2006.

The study finds that vacation-home sales rose 29.7 percent last year, to 717,000 units, up from 533,000 units in 2012. The median vacation-home price was $168,700, up 12.5 percent from $150,000 in 2012.

The improvement in the vacation-home market was expected, NAR chief economist Lawrence Yun says. “Growth in the equity markets has greatly benefited high-net-worth households, thereby providing the wherewithal and confidence to purchase recreational property,” he says. “However, vacation-home sales are still about one-third below the peak activity seen in 2006.”