Thursday, 28 October 2021 | The Latest Buzz for the Appraisal Industry

Demand for Second Homes Falls Nearly 20 Percent

Demand for second homes dropped 19.3% year over year in August, marking the third-straight month of declines, according to a new report from Redfin, a technology-powered real estate brokerage. Demand for primary homes also fell, slipping 1% year over year in the second-consecutive month of declines.

That’s according to a Redfin analysis of mortgage-rate lock data from real estate analytics firm Optimal Blue. A mortgage-rate lock is an agreement between a homebuyer and a

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