MYRTLE BEACH, SC (WMBF) - The National Association of Realtors has released its 2014 Investment and Vacation Home Buyers Survey. In it, the organization finds that the sale of vacation homes went up 29.7 percent in 2013 with the sale of around 700,000 homes.
Most of those home are being bought in the South by people in their forties with a median annual income of $85,000.
In the Grand Strand, condos are what most folks are buying, according to President of Coastal Carolinas Association of Realtors Joan Crowther. She says folks are buying them, everywhere from beachfront properties to more inland opportunities.
Nationally, most vacation homes are being purchased with all-cash or large-cash down payments and home prices right now are fair.
Crowther says she expects the trend to continue into the next few years while prices remain steady. She says the Grand Strand's biggest draw is the weather.
"We certainly did see that effect, a lot of people are just tired of shoveling snow," says Crowther. "While we had some cooler temperatures and some frozen precipitation, certainly not to the degree that they did, this is a very desirable area to live and place to consider for a future home."
If you are in the market for a vacation home, Crowther says buy now as those vacation home prices are slowly on the rise.