Nearly one-half of all U.S. Home Sales in 2005 were second homes. Second home sales captured forty percent of the residential resale market which makes a strong statement about the real estate industry and consumer investment strategies.

Interestingly, the average borrower's income is $60,800 for primary residence buyers with median loans of $136,000. Second home purchasers have a median income of $101,900 and loan medians of $118,000.

Lenders classify second homes as a dwelling that the purchaser will not occupy as a primary residence. Second homes are classified as vacation or investment. During the years 2000-2004, loans for second homes grew from 8.6% to 14.2%. The number of loans for second homes doubled.

States enjoying the largest volume of second home purchases are Hawaii, Florida, Arizona, Nevada and Idaho.

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