Demand for second homes is at its lowest in data going back to 2018, Redfin reports — even in vacation destination Tampa Bay.
What’s happening: Homeownership costs have soared, and cities are cracking down on short-term rentals.
- Plus, fewer people can work remotely from their beach house or ski chalet these days.
By the numbers: U.S. homebuyers took out around 86,600 mortgages for second homes last year, per Redfin’s analysis of Home Mortgage Disclosure Act data.
- That’s down roughly 5% from a year earlier and 66% from the pandemic homebuying frenzy.
Zoom in: Demand has particularly cratered in Florida, in part due to…..