New single-family home construction fell 9% in April to a 930,000 annual rate, down 2.4% from last year, while total housing starts rose due to an 11.5% increase in multifamily units. Single-family permits dropped 2.6%. Builders face inflation, rising labor costs, and declining home prices, leading to tighter margins and cautious market behavior. The Midwest shows more stability, but overall...
Mortgage purchase applications have dropped 35% since 2019, with the housing market frozen amid rising mortgage rates, now averaging 6.43% for 30-year fixed loans. Home resales have fallen 23% annually since 2019, while housing supply has surged to multi-year highs. Refinancing applications spike briefly when rates dip but remain low overall due to upfront costs and breakeven considerations, indicating...
6. Port Saint Lucie: - Projected annual premium (2024): $12,199, ↑ 2.5% yearly 5. West Palm Beach: - Projected annual premium (2024): $13,501, ↑ 2.8% yearly...
In November 2023, the home insurance market in Florida is in a state of flux, with many insurers leaving the state or going bankrupt and new companies coming in. Citizens Property Insurance, created in 2002 as the insurer of last resort, has become a popular option for homeowners due to its cheaper rates. However, Citizens has recently sent out 300,000 depopulation letters to some policyholders, offering...
Compare listings
Compare