Latest news with #HomeMortgageDisclosureAct
Axios
4 days ago
- Business
- Axios
No one is buying vacation homes in NWA
As buying a home has gotten less attainable for Northwest Arkansas, demand for second homes in the region and nationwide is also at its lowest in data going back to 2018, Redfin reports. Why it matters: Vacation homes are losing their luster. Homeownership costs have soared, and cities are cracking down on short-term rentals. 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 era's home-buying frenzy. Zoom in: Demand has particularly cratered in Florida as climate-related housing costs swell. 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%). The big picture: Home sales are sluggish overall, with many shoppers sidelined by high prices, elevated mortgage rates and economic uncertainty. Second-home mortgages represented less than 3% of all mortgage originations in 2024 — a record low, per the real estate site. Reality check: Even wealthy cash buyers are watching their wallets. The intrigue: Travelers may be cooling on second homes, too.
Business Journals
4 days ago
- Business
- Business Journals
Here are the biggest multifamily mortgage lenders in Tampa Bay
Mortgage lenders in Tampa Bay originated more than $900 million in purchase loans for multifamily residential properties — defined as buildings with five or more units — in 2024. This week's List is part of a shift in our research methodology and philosophy in 2025, one that will emphasize more data and context for readers while better coordinating the resources available to us and our 46 sister publications under the American City Business Journals flag. We anticipate this effort will identify thousands of new local records — and cumulatively, tens of thousands of new businesses across ACBJ's footprint — this year alone. Information on The List was obtained from ComplianceTech's LendingPatterns, a web-based Home Mortgage Disclosure Act (HMDA) data analytics platform. The data, which is derived from HMDA-LAR figures published by the Federal Financial Institutions Examination Council, includes all multifamily purchase loans originated in 2024 for properties in the following Florida counties: Hernando, Hillsborough, Manatee, Pasco, Pinellas, Polk and Sarasota. Single-family and other residential mortgages are excluded from this analysis. In case of ties, lenders are listed alphabetically. TBBJ could not independently verify information on the List. For information about this and other [PUBNAME] Lists, please contact Research Director Chris Erickson at cerickson@
Axios
5 days ago
- Business
- Axios
No one's buying Tampa Bay vacation homes
Demand for second homes is at its lowest in data going back to 2018, Redfin reports — even in vacation destination Tampa Bay. 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%)
Axios
31-05-2025
- Business
- Axios
No one's buying vacation homes
Demand for second homes is at its lowest in data going back to 2018, Redfin reports. Why it matters: Vacation homes are losing their luster. Homeownership costs have soared, and cities are cracking down on short-term rentals. 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 as climate-related housing costs swell. 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%). The big picture: Home sales are sluggish overall, with many shoppers sidelined by high prices, elevated mortgage rates and economic uncertainty. Second-home mortgages represented less than 3% of all mortgage originations in 2024 — a record low, per the real estate site. Reality check: Even wealthy cash buyers are watching their wallets. The intrigue: Travelers may be cooling on second homes, too.
Yahoo
29-05-2025
- Business
- Yahoo
Vacation Homes Are Not as Popular as They Used to Be
Those looking for a vacation home nowadays won't have much competition when buying one. As of 2024, vacation home purchases were down to 86,604, the lowest they have been since 2018. In 2018 and 2019, the purchase of vacation homes hovered around nearly 180,000. However, this number rose exponentially in 2020 and 2021 to 229,199 and 258,289, respectively, according to a recent chart compiled by Redfin analyzing data from the Home Mortgage Disclosure Act (HMDA). SIGN UP for the Dengarden / Parade Home & Garden newsletter for a weekly dose of our favorite house hacks, decor trends and shopping deals The interest in vacation homes isn't as strong as it was in 2020 and 2021 because of the trend toward returning to work and high home costs. Affluent homebuyers took advantage of the low interest rates then to buy these homes. Also, since so many work-from-home opportunities existed in 2020 and 2021, buyers opted to purchase vacation homes to perform such some companies are requiring employees to return to work and home interest rates continue to hover around 6.99%, this downward trend doesn't seem likely to end anytime soon. This is primarily because inflation has taken many households' discretionary funds, and vacation homes are becoming more expensive than primary homes. As with other unnecessary expenses, people are opting to cut back on second homes, which are more of a luxury nowadays. Add to this the skyrocketing insurance costs, especially in popular vacation areas near waterfronts in Florida, which are keeping potential buyers at bay. Those who purchased such properties to benefit from Airbnb revenues aren't faring well, either. Occupancy for Airbnb property rentals is down, so investors aren't seeing the returns they did in previous years. The lack of interest in such rental properties may encourage many owners to relinquish them, which could cause an avalanche of inventory to become available in areas where this market is saturated. If this surge happens, this could be good news for home buyers anxiously waiting for costs to drop before Homes Are Not as Popular as They Used to Be first appeared on Dengarden on May 27, 2025
