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Vacation-Home Sales Soar as Stock Gains Boost Buyers

U.S. vacation-home sales jumped in 2013, making up the biggest market share in seven years, as the surging stock market gave affluent Americans a confidence boost.

Vacation properties accounted for 13 percent of all sales, the highest level since 2006, when the share was 14 percent, the National Association of Realtors reported today. The portion of investment sales, excluding purchases by institutional investors, fell to 20 percent from 24 percent in 2012 as prices rose and the supply of foreclosures dwindled.