The National Association of Realtors recently released an interesting report about the sale of second homes in the
United States. While the survey is a little outdated, the data covers sales over five years to the end of 2004, it
still provides a perspective as to who, where, and how non-primary residences are being purchased.
For example, during the years from 2001 to 2004, second home sales (which include both recreational/vacation property and investment property) more than doubled from 405,000 to 881,000 while first home sales increased from 4,316,000 to 5,332,000. In 2000, second home sales represented 8.6 percent of all loans but by the end of 2004 represented 14.20 percent of total activity.
1. Tell me please, what is the term "second home"? Sorry, but I'm don't know
Posted at 2:11PM on Apr 1st 2006 by Ment