Purchases of second homes are at their highest market share since 2005, at the height of the housing boom.¬† A March 2012 report by the National Association of Realtors reports that investors lead the pack in buying second homes.¬† Sales of these homes, climbed nearly 65% to 1.23 million from a scant 750,000 homes in the previous year.¬†¬† Concurrently, the sales of vacation homes have climbed by 7% to just over half a million, compared to 469,000 in 2010. The NAR conducted the survey in March 2012 controlling the results for both age and income.
Repeating the trend from 2010, the biggest share of purchases of second homes in 2011 occurred in the South, with the second largest share of second home purchases occurring in the West.¬† Further, the sale of distressed properties made up for about¬† 40% of vacation home sales, 29% of primary home sales, and about half of the sales of investment properties.
These findings suggest that this is a great time to purchase real estate!¬† If you have been¬†looking for a Hilton Head Island home or villa that fits your lifestyle needs, or dreaming of owning your own vacation home, now is the time to go for it.¬†Contact me,¬†Jacque Johnson¬†and let me use my real estate experience as a South Carolina licensed real estate Broker to help you make Hilton Head your home.
Original Content By SMITH LIVING...™
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