Second Home Sales Declined in ‘06
Diana Heeb Bivona
The National Association of Realtors (NAR) recently released their report on second home sales in 2006. Not too shocking was the news that second home sales declined in 2006. Sales fell from 40% to 36% last year. However, by historical standards the sales rate was still considered high.
Overall, vacation homes continued to do well showing a growth of 4.8%. It was the investment property arena which took a substantial hit. Sales of investment property dropped a whopping 28.9%.
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