Second-Home Mortgages See Modest Rise in 2025, But Remain Below Pre-Pandemic Levels
In 2025, the U.S. saw a 4.1% increase in second-home mortgages, the first rise since the pandemic home-buying frenzy of 2021. Despite this uptick, the number of second-home mortgages remains significantly lower than pre-pandemic levels. High mortgage rates and affordability…
Salt Lake City, UT, July 29, 2026 — The U.S. experienced a 4.1% increase in second-home mortgages in 2025, marking the first annual rise in such loans since the surge in home buying during the 2021 pandemic. However, this uptick has not returned the market to pre-pandemic activity levels, with the total number of second-home mortgages remaining considerably lower than in prior years.
Several factors continue to influence the second-home market. Persistent high mortgage rates and ongoing affordability challenges are cited as key reasons why vacation homes are less accessible and appealing to a broader range of buyers. These economic conditions present a significant hurdle for individuals considering the purchase of a secondary property.
While national trends showed a general increase, specific regional data was not detailed. However, Salt Lake City, Utah, was identified as an emerging market for luxury second homes, particularly among affluent buyers. The city’s appeal is attributed to its proximity to various amenities and the anticipated economic stimulation from hosting the 2034 Winter Olympic Games. This suggests a niche growth area within the broader second-home market, driven by unique local factors and buyer demographics.
Story summarized from the original created by Lisa Riley Roche on www.deseret.com, see more information here.
Media gallery
