La Quinta, California

La Quinta, California
Desert Luxury

Desert Luxury Realty

Thank you for visiting my blog. When you choose Mary Williams, as your real estate agent, you are working with a team of seasoned professionals who cater to your every real estate need. Buying or Selling your home does not need to be full of hassels or needless pressure. Take it easy and enjoy the luxury of the desert. I look forward to assisting you with your search or sell of your home. Contact me today!

Wednesday, April 9, 2014

Vacation Home Sales SURGE in 2013!

According to a recent survey by the National Association of REALTORS®, vacation home sales increased a lot in 2013.
Vacation home sales                           +29.7% (13% of all transactions)
Investment home sales                      -8.5%
Owner-occupied homes                   +13.1%
pool sideAccording to the report“NAR Chief Economist Lawrence Yun expected an improvement in the vacation home market. ‘Growth in the equity markets has greatly benefited high net-worth households, thereby providing the wherewithal and confidence to purchase recreational property. However, vacation-home sales are still about one-third below the peak activity seen in 2006.”’
All-cash purchases remained pretty common in the vacation home market with 38% of vacation home buyers paying cash.
The survey went on to report, “The typical vacation-home buyer was 43 years old, had a median household income of $85,600 and purchased a property that was a median distance of 180 miles from his or her primary residence; 46 percent of vacation homes were within 100 miles and 34 percent were more than 500 miles. Buyers plan to own their recreational property for a median of 6 years, down from 10 years in 2012.”
  • 8 out of 10 vacation home buyers said now was a good time to purchase a vacation home
  • According to the U.S. Census Bureau, 8.0 million vacation homes exist in the United States.

So what does this mean for you?

NOW really is STILL a great time to buy your vacation/ home in the Desert.
Whether you are looking for a vacation home or investment, give me a call. I will help you find the right property for your needs!!

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**All information above is from the National Association of REALTORS® for informational purposes only.