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Americans Buying More Second Homes

Americans Buying More Second Homes

Vacation home sales in the United States increased 10.1 percent in 2012, as Americans rekindled their love of second homes.

The number of vacation homes sold in 2012 jumped to 553,000 from 502,000 in 2011, according to data released today by the National Association of Realtors.

“We had a strong stock market recovery, which helps more people in the prime ages for buying vacation homes,” NAR chief economist Lawrence Yun said. “Attractively priced recreational property is also a big draw.”

Of all home transactions in 2012, 11 percent were vacation homes, according to a report from the National Association of Realtors.

Seventy-eight percent of all second-home buyers said it was a good time to buy, compared with 68 percent of primary residence buyers, according to a NAR survey.

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