Investment home purchases represented nearly one-third of all existing-home sales last year, according to a National Association of Realtors® (NAR) report on second homes. This robust investment activity underscores the importance of limiting the government’s use of real estate owned (REO) bulk sales, as NAR recommended in a letter sent to regulators this week.
The 2012 NAR Investment and Vacation Home Survey shows that investment-home sales surged 64.5 percent to 1.23 million last year from 749,000 in 2010.
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