Powered By:

    US Second Home Sales Slide in Pandemic-era Vacation Hot Spots

    U.S. vacation home sales have fallen by nearly three-quarters from their pace three years ago, data from mortgage services firm Optimal Blue show. The reduction comes after a fervor of real estate investment in vacation locales during the pandemic. Optimal Blue data shows vacation home purchases peaked nationally during the third quarter of 2020 when 30-year mortgage rates were on their way to record lows under 3%. Those who bought secondary properties during the pandemic as vacation rentals are now seeing declining occupancy rates and a loss of revenue as many markets became oversaturated.

    Reuters (10/30/23) Amina Niasse

    Read More

    Recent Stories
    LA City Council Approves Law Requiring STR Hosts to Get Police Permits

    Maui Mayor Proposes Bill Amendment to Make STRS Available for Displaced Wildfire Survivors

    Officials and Residents Discuss Future of Short-Term Rental Policy in Ithaca