Boomer Buying

Sales of vacation homes are skyrocketing. Last year a record 1.13 million vacation properties sold, an amazing 21% of all sales and up 57.4% from 2013! Part of this is due to Boomers buying second homes to eventually retire to, while part is being fed by strong gains in financial markets. Meanwhile, sales of investment homes fell 7.4% to 1.02 million and owner-occupied purchases were 3.23 million, 60% of sales.