Second home purchases jumped to a record high in 2014, climbing to an estimated 1.13 million last year, the highest since NAR began its survey in 2003.  According to the National Association of REALTORS®’ 2015 Investment and Vacation Home Buyers Survey, vacation sales in 2014 nearly doubled the combined total of the previous two years, rising 57% compared to the 717,000 amount in 2013.

Second-vacation home sales have always been a significant component of Arizona residential sales, and this study shows the continuing strength of that market.