By Matthew Power. A new study by the National Association of Realtors has some surprising news about second homes. There are a total of roughly seven million second homes, about twice as many as previously thought. Vacation homes represent about 6 percent of all home sales, or 400,000 per year; the income of buyers averaged somewhat lower than expected, at $77,000.
Reason for Buying
Getaway for family: 51%
Retirement home: 18%
Investment: 15%
Rental income: 15%
Other: 1%
Source: NAR
