NAHB Says Second Homes Aren’t Just Vacation Destinations

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Posted To: MND NewsWire

The stereotype of a second home usually involves a tropical beach, a boat dock on a lake, or skiers whizzing past a picture window, but the National Association of Home Builders (NAHB) says that is not reality. Or at least not all of it. Na Zhao, writing in NAHB’s Eye on Housing blog says there are a good amount of second homes and lots exist in non-vacation-y areas. NAHB estimates there are 7.4 million homes, or 5.6 percent of the total housing stock that qualify for the second home mortgage tax deduction. That information comes from the Census Bureau’s 2016 American Community Survey (ACS.) As might be expected, the state with the largest stock of second homes was Florida with 1.1 million; 15 percent of all such homes in the country. Roughly half of the total is located in Florida and seven…(read more)

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