No one's buying Tampa Bay vacation homes
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 increasing insurance, property taxes and HOA costs, per Redfin.
More frequent, and more intense, hurricanes also played a role.
Mortgages for second homes fell from the previous year in 30 of the 50 most populous metros, led by Miami (-32%), Orlando (-28%) and Fort Lauderdale (-28%), West Palm Beach (-23.7%) and Tampa (-20.9%)
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