In a report out today at the fractional industry conference, Richard Ragatz, President of Ragatz Associates announced that the North American fractional industry sales were $1.525bn in 2008.

This represented a drop of 34% on the 2007 sales number of $2.29bn. In comparison, Dr Ragatz estimated that sales of wholly owned second and vacation homes dropped by about 40% between the two years. So relatively speaking the shared ownership sector fared somewhat better than whole ownership.

The breakdown of the sales by different sectors showed fractional and private residence club sales at $1,176m and destination club sales of $349m. Fractional sales dropped 30% from $1,687 in 2007 and destination club sales dropped 43% from $610m in 2007.