Last year we let you know that it was a good time to purchase a vacation home and earlier this month a survey was released from the National Association of Realtors stating, “Vacation home sales boomed in 2014 to above their most recent peak levels.”
NAR’s chief economist, Lawrence Yun, says vacation sales in 2014 showed astonishing growth, nearly doubling the combined total of the previous two years. “Affluent households have greatly benefited from strong growth in the stock market in recent years, and the steady rise in home prices has likely given them reassurance that real estate remains an attractive long-term investment.”
With that in mind, and the Fed saying interest rates will be on the rise later this year, there is still a short window of opportunity left. Let us know how we can help assess your situation to include a vacation home before the end of the summer!