Sales of new and previously owned vacation homes rose last year, while investment-home sales dropped, according to a survey report by the National Association of Realtors.
NAR’s 2010 Investment and Vacation Home Buyers Survey includes responses from residents in 1,930 randomly selected households who bought residential real estate in 2009. The association conducted the survey in March 2010 and controlled for age and income.
Vacation-home sales increased 7.9 percent to 553,000 in 2009 from 513,000 in 2008, the report said. The market share for vacation homes rose to 10 percent, from 9 percent in 2008.