Top 10 places in the U.S. to buy a vacation home
Vacation home sales boomed in 2014 to above their most recent peak level in 2006, while investment purchases fell for the fourth straight year, according to an April 2015 survey of residential homebuyers by the National Association of Realtors.
NAR's 2015 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2014, shows vacation-home sales catapulted to an estimated 1.13 million last year, the highest amount since NAR began the survey in 2003. Vacation-home sales were up 57.4% from 717,000 in 2013.
Investment-home sales in 2014 decreased 7.4% to an estimated 1.02 million in 2014 from 1.10 million in 2013. Owner-occupied purchases fell 12.8% to 3.23 million last year from 3.70 million in 2013.
You may have day dreamed about buying a vacation home near your favorite destination. To help second-house shoppers to identify seasonal home sweet spots, Zillow analyzed the cities nearby various popular vacation areas.
Properties in cities with a high Second Home Index score are expected to see strong home value gains — making for a better investment — and also have good rental income potential.
Here are the top 10 destinations in the U.S. for people who are into beaches and boating to buy a vacation home.