Boom in Second Homes Leading Developers, Residents Into New Areas

The boom in the second hand homes:

Nationally, a record 2.82 million second homes sold in 2004 - 1.8 million as investments and just over 1 million as vacation homes - a 16.3 percent increase, according to the National Association of Realtors. In all, 36 percent of all homes purchased in 2004 were either for investment or vacation.

AP