title
September 2017   Volume 43, Number 9      
 

1

Second Homes Sales Decline as Investment Sales Increase

Last year, vacation home sales dropped back to their lowest levels since 2013. That’s a 21.6 percent decline since 2015, according to the National Association of Realtors Chief Economist Lawrence Yun.

Yun says the rise in home prices throughout the country has made second homes less affordable and investment houses more attractive. As the cost of vacation homes goes up, buyers are turning their attention to the investment opportunities in purchasing single- family dwellings. People also like the higher rents and low mortgage rates now available.

Sales of investment homes are the highest since 2012. According to the NAR’s 2017 Investment and Vacation Home Buyers Survey, the median vacation home price was $200,000 in 2016, up 4.2 percent from 2015 and the highest since 2006. The median investment-home sales price was $155,000, up 8 percent from 2015 and the highest since 2005.

[return to top]

 

 

 

 

In this issue:

The 10 Fastest Growing Cities in the U.S.

Automation Could Eliminate Real Estate Appraisal Jobs

Life Is Great for U.S. Homesellers

Los Angeles Ranks First as Best City for Global Real Estate Investors

Millennial Homebuyers Are Struggling

Millennials More Likely to Regret Real Estate Choices

Real Estate Startup Redfin Gears Up for IPO

Zillow’s Instant Offers Program Draws Ire From Real Estate Agents

Second Homes Sales Decline as Investment Sales Increase

Nine Highly Salable Factors of Real Estate Property



 


The information presented and conclusions within are based upon our best judgment and analysis. It is not guaranteed information and does not necessarily reflect all available data. Web addresses are current at time of publication but subject to change. SmartsPro Marketing and The Insurance 411 do not engage in the solicitation, sale or management of securities or investments, nor does it make any recommendations on securities or investments. This material may not be quoted or reproduced in any form without publisher's permission. All rights reserved. ©2017 The Insurance 411. Tel. 877-762-7877. theinsurance411.com