What percentage of homes purchased are to rent or to have as a second home?

It's interesting to learn where the trend is heading with home purchased for rentals or second homes. According to the Cromford Report August and September of this year were identical with 13% of homes purchased to rent. The percentage purchased as second homes was 10.5% for both months. 76.5% were purchased for a primary residence.

If we go back a year in September 2013 the percentage of homes purchased to rent was 19.9% and the percentage purchased as second homes was 10.1% which means 70.1% were purchased for a primary residence.

If we go back another year to October 2012 27.7% of homes were purchased to rent, 13.1% were purchased for a second home and 58.2% were purchased for a primary residence.

Demand for primary residences has become more important over the last year while the demand for rentals has dropped and the demand for second homes has remained stable.

Always interesting to see the changes...