2 Things that are Blocking your Vacation Home Hopes

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2 Things that are Blocking your Vacation Home Hopes

A recent survey done by the National Association of Realtors showcased a declining trend in investments and the vacation real estate market and its vacation home sales.

The “2016 Investment and Vacation Home Buyers Survey” showed that vacation home sales have declined in the last year, with an estimated 920,000 vacation homes purchased. While this is down 18.5% from the recent peak of 1.13 million in the previous year, the numbers are still second highest since 2006.

2 Things that are Blocking your Vacation-Home Hopes

Chief Economist of NAR, Lawrence Yun explained that while many people were in the market for vacation homes, a decrease in bargain properties resulted in fewer sales and higher prices. The hit to financial markets in the second half of the year also played a factor in the free-flowing cash that home buyers were banking on for vacation-home savings.

Yun further explained that prices went up for vacation homes in 2015 as shown below:

2 Things that are Blocking your Vacation-Home Hopes

While vacation home purchases may be on the decline, homeowners looking to purchase their dream home should know that this year is set to be the best year in real estate since 2006! Are you ready to start looking?

Browse our Mountain Island Homes for Sale today! Call us now at 704.997.3794.

If you decide you don’t like your home we will sell it for free. *some conditions apply*

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