Friday Facts June 8, 2012

FRIDAY FACTS

June 8, 2012

 

From the National Association of Realtors Resort and Second Home Survey

 

  • Consumers are following the bargains.

 

  • In 2011, 502,000 vacation homes were purchased in the U.S., up 7% from last year, but half of 2006.  The median price was $121,300, down 19% from 2010.  39% were purchases of distressed properties

.

  • In 2006, 25% purchased second homes in the West and 38% in the South.  In 2011, 30% purchased in the West and 42% in the South.

 

  • 40% made a down-payment of at least 30%

 

  • 42% were all cash

 

  • Second home foreclosure sales were 2% in 2006, and 14% in 2011.

 

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