But is the Buying Spree Over?
The headlines today seem to say it all - second homes (28 % for investment, 12 % for vacation homes) account for a full four out of every 10 home sales in the U.S. But buried below the top paragraphs is a warning -- those figures are for 2005... And David Lereah, the National Association of Realtors honcho who has been tracking the boom for years now, says he thinks the trend has "crested." He expects sales in 2006 to dip by 10 % -- as "speculative investors" who are in the game only as flippers leave the market. The good news: the vacation home market -- as opposed to investor-driven market -- will stay strong