• As we look forward to Memorial Day Weekend and the official start to summer here are a few vacation home owner statistics from a recent report.
  • The median vacation home purchase price was higher in 2012 than in 2011--$150,000.
  • The share of vacation buyers who did not use a mortgage rose slightly to 46 percent from 42 percent in 2011.
  • Since there were fewer distressed properties on the market in 2012, there were fewer that could be purchased. The share of vacation buyers who purchased a vacation property dropped to 35 percent from 39 percent in 2011.
  • However, the share does remain high—20 percent of vacation buyers purchased a home in foreclosure, while 15 percent purchased a short sale.
  • Vacation buyers expect to own their vacation home for 10 years.
Click chart to view larger version.