An article from Mortgage News Daily, reports that according to a study released late last month by the National Association of Realtors® (NAR), second-home sales declined with the overall market in 2007, but second home sales still accounted for 33% of all new and existing home sales. In 2007, 21% of all homes purchased were for investment purposes compared to 22% the year before. In addition, 12% of the home purchases were vacation homes, down from 14% in 2006. Lawrence Yun, NAR chief economist said lifestyle factors and strong demographics remain positive for the vacation home market. He said, "Investment considerations are secondary for vacation-home buyers, so there is some dormant underlying demand. A peak of population is moving through the prime years for buying recreational property. It is welcoming to see investment sales returning to pre-boom sales activity."
http://www.mortgagenewsdaily.com/4172008_Vacation_Property.asp
