Economists looking for further proof of a robust vacation-home market should head to New York’s tony Hamptons.
“In our market, $1 million is low-end, and the high end is $10 million-plus,” says Diane Saatchi, an associate real-estate broker with Bridgehampton, N.Y.-based Saunders & Associates.
In the U.S., vacation-home sales jumped over 50% in 2014, up from 717,000 homes in 2013, according to preliminary data from the National Association of Realtors (NAR), a trade group. And second-home sales are expected to continue climbing in 2015, says Lawrence Yun, NAR’s chief economist.
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