Sales of vacation homes have fallen by three quarters from their peak during the pandemic as soaring interest rates and limited housing stock deters would-be buyers. Some 16 percent of existing home sales are now for vacation properties, down from a peak of 22 percent in January 2022, data from the (NAR) show. The figure remains above the 14% average from late 2015 through to the first half of 2020.And a report from mortgage services firm Optimal Blue cited by shows that house sales in tourist hotspots Hilton Head Island, South Carolina, and Lake Havasu City, , have effectively dried up this year. Across the board, vacation home sales have fallen by 75%.
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