Vacation Home segment of U.S. housing market shows growth in 2006:
There have been several articles recently regarding an actual bright spot in the U.S. housing market. Vacation Home sales rose 4.7% for a record of 1.07 million homes in 2006. The share of vacation-homes rose, making up 14% of all home sales, up from 12% in 2005. For comparison, primary-residence sales fell 4.1% during the time in 2006. Of second home buyers, 8 out of 10 thought it was a good idea to invest in real estate while only 57% of primary-residence buyers thought the same. Since our Hayward area housing market has a large percentage of vacation homes, this is very good news. And, based on the past few weeks of activity this is going to be a “very” good summer.
Come and see us, the forecast for the week is warm and wonderful, but please be mindful that fire danger is high. Have a great weekend and ENJOY, LIFE IS GOOD!
Chris McGrath
