What has the market looked like for non-traditional buyers like those searching for vacation or investment homes over the last year? We reviewed the 2017 NAR Investment & Vacation Home Buyers’ Survey found the below key statistics particularly interesting:
Vacation Buyers
- STATUS: The share of vacation home buyers declined for the third straight year to 12% from 16% a year prior putting it at the historical average for the data set collected since 2003
- PRICE: The median vacation home purchase price was $200,000 in 2016, up from $192,000 the year prior
- FUTURE: 21% are very likely to purchase another vacation home in the next two years
Investors
- STATUS: The share of investment buyers remained unchanged at 19% for the third straight year
- PRICE: Investors typically purchased a median-priced property of $155,000, up from $143,000 in 2015
- FUTURE: 28% of investment buyers are very likely to buy another investment property in the next two years
What shifts have you seen in vacation home buyers and investors over the last year? Share in the comments below!
