Pandemic-driven demand for vacation homes is continuing into 2021 as mortgage applications for second homes see their eighth consecutive month of 80%-plus growth. Demand for second homes is increasing twice as fast as it is for primary residences. Mortgage applications for second homes soared 84% year over year in January. While that’s down from a […]
Homes in rural areas are selling a month faster than last year, and prices are up 16%. The number of homes for sale in rural areas nationwide declined a record 44.4% year over year in the four weeks ending January 21, and fell 38.4% in suburban areas. Those mark the biggest annual inventory drops since […]
Affluent New Yorkers are flocking to Florida in search of sunshine and lower taxes during the pandemic. It’s fueling the luxury housing markets in West Palm Beach and Miami, where high-end home prices are up 18%. Luxury home sales in West Palm Beach, FL surged 116% year over year in the fourth quarter—a bigger gain […]