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.