Vacation-home sales are down 30%

The second-home market took a big hit last year as sales of vacation houses fell 30.6 percent from 2006, the National Association of Realtors reported today.

Sales of investment properties also declined by 18.4 percent last year from 2006, the NAR reported.

Vacation homes sales fell to 740,000 in 2007 from a record 1.07 million in 2006. Investment-home sales fell 18.1 percent to 1.35 million last year from 1.65 million in 2006.

At the same time, sales of primary homes fell 10 percent, to 4.34 million in 2007 from 4.82 million in 2006.