Vacation Home Market on the Rebound

Stuart firm concludes harsh winter might have helped
By: Sunshine State News | Posted: March 19, 2011 3:55 AM

After several years of negative trends in the real estate industry, finally a sign of life: A market study just out by a Stuart real estate marketing firm shows budding consumer confidence in the second- or vacation-home market.

"It's no exaggeration to say that four years ago -- unless you count commercial buyers grabbing up ultra-cheap foreclosures -- the second-home market was dead as a doornail," said Rolly Marsh, a market analyst with Washington, D.C.-based National Association of Realtors.

The good news comes via the third annual Cotton Report, which reports a polling of more than 800 participants on housing preferences, motivating factors, pricing levels and timelines for purchase. It included participants from 39 states, Canada, Europe and Latin America.

While no direct correlation was made to the harsh winter temperatures, the research survey did point to a significant increase in the number of homebuyers looking to buy a vacation home -- in fact, a year-over-year increase of 800 percent.

Read the full article here.

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