Vacation Home Sales Soar

guesss its now time for house boom.

24/7 Wall St.

New homeVacation home sales took off last year. This could either be a sign of a new housing bubble, or just a show of confidence that the economy has improved, people have less debt and more job security, and they will risk the cost of owning a second home. Whatever the reason, the trend should give the overall housing market a lift — as if, based on other research, it needs one.

The National Association of Realtors issued its 2013 Investment and Vacation Home Buyers Survey. The bottom line take from the data covering: “existing- and new-home transactions in 2012, shows vacation-home sales rose 10.1 percent to 553,000 from 502,000 in 2011.”

The new demand came at a price last year: “the median vacation-home price was $150,000, compared with $121,300 in 2011, reflecting a greater number of more expensive recreational property sales in 2012.”

Poor people have stopped selling their…

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