What to know about buying a second home

What does it take to buy a second home? How does today’s real estate market impact the vacation home market? NAR Chief Economist Lawrence Yun discusses the decline in existing-home sales and the rise in median home sales prices and what it means for home buyers and sellers. REALTOR® Sindy Ready from Scottsdale, Arizona discusses what it takes to find opportunities for home buyers looking to get a second home in a balanced real estate market. REALTOR® Beth Foley from West Michigan discusses how higher interest rates for mortgages are impacting the second home market and the purchase of short-term rentals. Also, she talks about how legislation impacts buyers’ plans to run an Airbnb, Vrbo or HomeAway property. And Melissa Dittmann Tracey shares whether cane webbing and see-through glass kitchen cabinets are hot or not.