The pandemic-era vacation-home boom appears to be unraveling. A new analysis found that U.S. vacation-home purchases financed with a mortgage fell 65.8% between 2021 and 2025, dropping from 257,549 purchases to just 88,158 nationwide. Because vacation homes are typically discretionary purchases, the category can also act as a leading indicator for broader economic conditions. Sharp declines in second-home buying may reflect changing consumer confidence, affordability pressures, and reduced financial flexibility—even among higher-income households that traditionally drive resort and leisure real estate markets. The report examines where second-home demand has declined the most across the country, ranking states and metro areas based on the change in vacation-home mortgage originations since the height of the pandemic housing boom.

The U.S. has dramatically increased infrastructure spending since the bipartisan infrastructure law passed in 2021—but many Americans are still driving on deteriorating roads. A new analysis from Construction Coverage finds that highway and street construction spending surged roughly 25% in recent years, reaching nearly $150 billion annually—yet more than 1 in 8 major U.S. roads are still classified as being in poor condition nationwide. The report ranks every state based on the share of major roads in poor condition using the latest federal roadway data and reveals a stark regional divide in infrastructure quality.