Vacation Home Sales Soaring

Vacation home sales grew tremendously in 2014 to above their most recent peak level in 2006, according to the National Association of Realtors (NAR).  NAR says that vacation sales were up 57.4% form last year and accounted for 21% of all transactions in 2014.  The median price for vacation homes sits at $150,000, down 11% from last year.  54% of vacation home buyers bought a single family home and the majority of buyers bought property that was more than 200 miles away.