Vacation home buyers are apparently on vacation. The National Association of Realtors (NAR) reported Tuesday that purchases of vacation home’s last year plunged by 21.6% from 2015 to an estimated 721,000, the lowest level since 2013 (717,000).

The NAR's Investment and Vacation Home Buyers Survey additionally found that vacation and investment buyers in 2016 were more likely to take out a mortgage and use their property as a short-term rental.

On the other hand, investment-home sales in 2016 rose 4.5% to 1.14 million from 1.09 million in 2015. Owner-occupied purchases jumped 12.5% to 4.21 million last year from 3.74 million in 2015 – the highest level since 2006 (4.82 million).