Second Homes: Recovery Post Financial Crisis

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Housing Insights

Second Homes: Recovery Post Financial Crisis

Historically, most mortgage origination volume comes from traditional purchase and refinance mortgages on primary residences. A smaller, yet significant portion of the market consists of purchase originations for second homes – homes that are neither the borrower’s primary residence nor an investment property. During the housing downturn, the second home mortgage market experienced a severe decline. However, in each year since 2009, the share of the mortgage market consisting of second home purchases has grown.

In this latest edition of Housing Insights, Fannie Mae’s Economic & Strategic Research Group provides insights into the typical second home buyer, the history of the second home market, and the outlook for second home sales in the future.

Second Homes: Recovery Post Financial Crisis (PDF)

 

Previous Housing Insights

Housing Insights formerly called Data Notes

Geographically Constrained Job Growth Provides Another Indication of a Sluggish Labor Market Recovery

Fannie Mae Housing Insight: January 9,2014

An Uneven Recovery in Household Wealth

Fannie Mae Housing Insight: December 9, 2013

Deconsolidation in the Primary Mortgage Market: A Temporary or Structural Trend?

Fannie Mae Housing Insight: December 5, 2013

Homeownership Rate Continues to Drop, But Housing Affordability Improves Substantially

Fannie Mae Housing Insight: October 3, 2013

Is the Development and Design of Multifamily Rental Housing In Line with Recent Trends?

Fannie Mae Housing Insight: October 2013

Projected Slowdown in Labor Force Growth Suggests Weaker Future Housing Activity

Fannie Mae Housing Insight: August 2013

Immigrant Homeowners Hit Hard During the Housing Collapse, but Experience Varies by Country of Birth

Fannie Mae Housing Insight: July 2013

Manufactured Homes: A Shrinking Source of Low-Cost Housing

Fannie Mae Housing Insight: June 2013

When the Housing Market Returns to "Normal," How Much Will Residential Construction Employment Rebound?

Fannie Mae Housing Insight: May 2013

Rental Resurgence Marked by Single-Family Expansion and Diverging Affordability Trends for Owners and Renters

Fannie Mae Housing Insight: Nov 2012

Stuck in the Great Recession's Income Slump: Sluggish Job Earnings Impede an Economic Expansion

Fannie Mae Housing Insight: Sept 2012

Housing the Nation’s Burgeoning Older Elderly Population

Fannie Mae Housing Insight: June 2012

Housing Cost Burdens

Fannie Mae Data Note: May 2012

Single-Family Rental Housing – The Fastest Growing Component of the Rental Market

Fannie Mae Data Note: Mar 2012

Inaugural Fannie Mae Data Note Examines Falling Homeownership Rates

Fannie Mae Data Note: Oct 2011