Interest Rate Roundup

Monday, April 30, 2007

Investment home sales, prices tank

The National Association of Realtors conducts a survey every year on purchase activity in the vacation and investment home markets. It's no big surprise, but both investment home buying activity and median prices plunged in 2006. Here are some of the key findings from the just-released figures ...

* Market share: Investment and vacation home transactions accounted for 36% of overall sales last year, down from a record 40% of sales in 2005. Investment share alone slumped to 22% from 28%.

* Volume: Vacation home sales reportedly gained 4.7% last year, while primary home sales dropped 4.1% and investment home sales plunged 28.9%.

* Prices: Vacation home median prices declined 2% to $200,000 from $204,100 a year earlier. Median investment home prices dropped much more sharply -- 18.3% to $150,000 from $183,500.


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