Source: Mansion Global
Homebuyer demand for second homes was up 87% from pre-pandemic levels in January as affluent Americans locked in mortgage rates before they increase further, according to a new report from Redfin. This is the highest level in a year and just shy of the record 90% gain in September 2020.
Demand for second-home mortgages is outpacing demand for primary residences, which was up 42% from pre-pandemic levels in January. Redfin’s report uses residential mortgage-rate lock data to measure demand.