Rising prices spur decline in investment-home sales in 2012

NAR: Vacation-home sales rise 10 percent

Investment home sales dropped in 2012, marking the first decrease since 2009, NAR reported today. The drop may reflect last year’s increase in homes prices, which could have made properties marginally less attractive to investors.

“With rising prices and limited inventory, notably in the low price ranges, investors are likely to step back in coming years,” said NAR Chief Economist Lawrence Yun in a statement.