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Vacation Home Sales Plummet Amid Rising Costs, Market Turmoil

5/12/2025

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Summary

Story summary

The U.S. vacation home market is in turmoil, with second home purchases plummeting to their lowest levels since 2018. Soaring mortgage rates and rising maintenance costs, coupled with a shift back to office work, are prompting desperate sellers to unload properties. Florida and Maine are feeling the brunt, as owners scramble for cash amid looming housing crash fears.

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Story summary

The U.S. vacation home market is in turmoil, with second home purchases plummeting to their lowest levels since 2018. Soaring mortgage rates and rising maintenance costs, coupled with a shift back to office work, are prompting desperate sellers to unload properties. Florida and Maine are feeling the brunt, as owners scramble for cash amid looming housing crash fears.