Vacation homes plummet in San Antonio area
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Demand for second homes in the San Antonio area is at its lowest in data going back to 2019, Redfin reports.
Why it matters: Fewer people can work remotely from their Texas Hill Country getaway these days.
- Homeownership costs have soared, and cities like Boerne have cracked down on short-term rentals.
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 nationwide in 2024 — a record low, per the real estate site.
Zoom in: There were 407 new mortgages for second homes in the San Antonio area in 2024, down more than 7% from a year prior and down 69% from 2021, per Redfin's analysis of Home Mortgage Disclosure Act data.
- Our metro area includes destinations like Canyon Lake and Boerne.
Zoom out: Nationwide, second home mortgages are down roughly 5% from a year earlier and 66% from the pandemic homebuying frenzy.
Reality check: Even wealthy cash buyers are watching their wallets.