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Popularity of vacation homes are waning

for sale sign outside houseAccording to the National Association of Realtors 2017 Investment and Vacation Home Buyers Survey (nar.realtor), last year’s vacation home purchases plunged 21.6 percent!
Last year’s decline in vacation home sales comes at the heels of a huge drop in 2015, and has tumbled about 36 percent since the post-recession high marked in 2014.
Are the statistics telling us it’s it a good time to buy that vacation home you have been thinking about?
Or is it that Americans are rethinking their view about vacations and retirement?

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Buying a second home for vacations

A trip to the beach or mountains may have you wondering about owning your own vacation home. And as it happened you’re not alone! An April 1st 2015 National Association of Realtors® press release estimated that vacation home sales bounced back to peak levels in 2014 with a massive 57.4 percent increase over 2013 sales! In contrast, during the same period there was an estimated 7.4 percent decrease in investment home sales, and an estimated 12.8 percent decrease in owner occupied home sales (realtor.org).

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