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Second Homes Surge Amid Affordability Crunch | Salt Lake City News
Second-home buying is making a comeback—but it’s not the wild frenzy of 2021. Mortgages for vacation homes jumped 4% last year, while primary home loans only rose 1%, signaling a shift toward wealthier buyers who can afford both. With prices and rates still biting, most second-home buyers are high-income, white, Gen Xers earning around $294K, and they’re flocking to places like West Palm Beach, the Jersey Shore, and Palm Springs. Meanwhile, Las Vegas saw a drop, while emerging luxury markets like Salt Lake City and parts of Florida and South Carolina are gaining traction—thanks to amenities…
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