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US vacation home sales boomed during pandemic, survey says

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AFP

Washington (AFP) – US real estate became a hot commodity during the Covid-19 pandemic, but an industry survey released Tuesday said vacation homes were even hotter, underscoring how those who could afford it sought comfort far from cities despite the economy’s collapse. The share of vacation homes sold out of all existing home sales is usually around five percent annually, but in 2020 it climbed to 5.5 percent, and was at 6.7 percent for the first four months of 2021, the National Association of Realtors (NAR) said, with the ratio hitting eight percent in April 2021 alone. “With no other major…

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