The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, according to a recent Redfin study.

Redfin Chief Economist Daryl Fairweather said the numbers are likely exaggerated because demand for second homes dropped 24% year over year in April 2020, the month after the coronavirus pandemic permeated throughout the U.S. Still, second-home mortgage rate locks are holding steady at more than double pre-pandemic levels. 

“The combination of the wealthy becoming wealthier, remote work turning into the new details ⇒

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