Despite overall home sales maintaining their strongest pace in a decade, 2016 vacation home sales reported in at their lowest level since 2013, dropping 21.6 percent from 2015. The National Association of REALTORS® Chief Economist Lawrence Yun attributes this decline to challenges with affordability and supply. The two of the most popular destinations for vacation homes – the South and the West – have seen soaring home prices in several markets in recent years, meaning purchasing a second home has become difficult and unaffordable for many buyers. However, buyers purchasing… Read More
Source: REALTOR News