Demand for Vacation Homes Soared in January
Mortgage applications for second homes soared year over year in January (Redfin)
Mortgage applications for second homes soared 84% year over year in January. While that’s down from a peak 118% year-over-year increase in September, it’s up significantly from a year ago and marks the eighth straight month of 80%-plus year-over-year growth. The annual rise in second-home applications is more than double the increase in applications for primary homes. Demand for primary residences rose 36% year over year in January, down from the 65% peak in September and the smallest increase since May.