VACATION HOME FACTS
• Median price of a vacation home in 2007: $195,000.
• 59 percent of vacation homes purchased in 2007 were single-family homes, 29 percent condos, 7 percent townhomes or rowhouses.
• 65 percent of vacation home buyers purchased existing homes in 2007, with the remainder purchasing new homes.
• The typical vacation home buyer in 2007 was 46 years old with a median household income of $99,100, purchasing a property that was a median of 287 miles from their primary residence.
• 16 percent of vacation homes were purchased in the Midwest, 19 percent in the Northeast, 41 percent in the South, and 24 percent in the West.
Source: National Association of Realtors investment and home buyers survey
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