Vacation Home Sales...

Slump isn't slowing vacation home sales, from MSNBC.com,
reports that demand for vacation homes was strong in 2006, while sales of
investment homes plunged, according to a report released by the National
Association of Realtors on Monday. The NAR said sales of second homes for
investment fell by 28.9 percent in 2006, while vacation home sales rose 4.7
percent. According to the NAR survey, 22 percent of all homes purchased last
year were for investment, down from 28 percent in 2005. The number of
vacation homes purchased last year represented 14 percent of the total
market for new and existing homes, up from a 12 percent share in 2005. The
NAR survey shoed the typical vacation-home buyer in 2006 was 44 years old
and had a median household income of $102,000. The vacation home was a
median of 215 miles from the homeowners primary residence. The median price
of a vacation home in 2006 was $200,000.

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http://www.msnbc.msn.com/id/18405318/