A second home..it's a tough thing for many of us to grasp.  Not all of us are in the financial position to even dream of this possibility, but apparently there are people out there interested in these properties and apparently at record rates. 
NAR says that they accounted for 36% of all existing and new residential transactions.  Amazing.

It was reported recently that the median price for a vacation home was $200,000, down just a bit from the year before, so that certainly helped just a bit.

Even more amazing is that much of this data may be a bit skewed as many of the people that have been classified as buying a 'second' home might have actually been closing the transaction for their third or even fourth property!