Demand for vacation home sales is heating up as a strong stock market, and improving economy and job market, have given more consumers the confidence to spend more freely on second residences, summer homes and getaway spots.
Nationwide, sales of homes intended for personal vacation use rose 10.1% in 2012 to 553,000 properties, according to the National Association of Realtors' investment- and vacation-home buyers survey.
Why the strong lift in vacation-home sales? The economy is growing, the unemployment rate is generally ticking down (though initial jobless claims rose last week), and the stock market has done very well in the past year or so, Bishop notes.
"A lot of buyers, who were sitting on the sidelines, decided last year was probably a good time to take advantage of buying a vacation home," he said. "They were feeling pretty good about their own financial situation, given the growth in the market and in the economy."