Vacation home sales up in 2013

Vacation home sales increased in 2013.Sales of vacation homes in the U.S. increased in 2013, according to a new report from the National Association of Realtors. The 2014 Investment and Vacation Home Buyers Survey reported that vacation home sales increased by 30 percent in 2013 from the previous year and 47 percent since 2011.The NAR reported that 717,000 vacation homes changed hands over the past year, the highest number since 2006. Although some plan to use these homes for their own benefit, the NAR said that many vacation homeowners will be using these properties to help turn a profit. HomeAway, Inc., a vacation home listing company, said 89 percent of those that purchased a vacation home plan to rent out their properties over the next year.Buying an additional home or even an vacation home may seem like an expensive investment, but HomeAway CEO Brian Sharples said that these homes were priced at affordable rates."Though bargain-basement pricing is becoming rarer in recent years for vacation homes, we're still seeing prices lower than they were seven years ago, indicating there are still good deals to be had," Sharples told the Rock Hill Herald.The median price for one of these homes was $168,700 in 2013.Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.