Second-home Market Holds Steady

The market share of vacation- and investment-home sales held steady in 2010, although the sales volume declined with the overall market. NAR’s™ 2011 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2010, shows vacation-home sales accounted for 10 percent of transactions last year while the portion of investment sales was 17 percent, both unchanged from 2009. “A sizeable number of buyers made deals with all-cash offerings,” says NAR Chief Economist Lawrence Yun.