Second-home sales account for 40% of residential market

Second-home sales accounted for about 40 percent of all residential transactions in 2005, the National Association of Realtors reported today, eclipsing the 36 percent level reported in 2004.

The Realtor group's annual report, based on two surveys, found that 27.7 percent of all homes purchased in 2005 were for investment and another 12.2 percent were vacation homes.

The trade group reported 3.34 mi more...

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