Looking to get away from the hustle and bustle of the city this summer? Well, you’re not alone. According to a recent report from Redfin, mortgage applications for second homes increased 84% in January year over year. The trend has largely been driven by low mortgage rates and lifestyle changes brought on by the pandemic, as people have realized they can bring remote work seemingly anywhere.
The resort-home communities of Michigan, Indiana, and Wisconsin are known for being popular vacation destinations for Chicagoans. But their appeal isn’t limited to summer getaways, and that was never more apparent than when COVID-19 hit this spring. Many people with second homes in the area chose to shelter in place there. Others were inspired to find a retreat in the area once restrictions lifted and market activity picked up.
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