Housing Wire

MARCH 3, 2025

Annual property insurance costs for mortgaged single-family homes rose by a record $276 (or 14%) to $2,290 in 2024, per the latest Intercontinental Exchange (ICE) Mortgage Monitor Report released Monday. of borrowers switched insurance providers in 2024, up from 9.4% ICE loan-level data shows that a record 11.4%

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Housing Wire

DECEMBER 9, 2024

Weve now been in the post-pandemic housing market recession market as long as we were in the pandemic boom. Does the housing market start to get back to normal? In Florida and Texas, we see the rising costs of insurance , taxes and climate risk driving some sellers. Two and a half years.

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Appraisal Buzz

DECEMBER 30, 2024

If youre thinking about buying or selling a house and wondering about the housing market, youre not the only one. The real estate market has seen a lot of unusual trends in the past couple of years, so it makes sense that youd want the latest market update before you make any major decisions! Is It a Buyers Market?

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Appraisal Buzz

DECEMBER 5, 2024

ATTOM has released its latest Special Housing Market Impact Risk Report , a study examining county-level housing markets around the U.S. The report shows that California, New Jersey, and Illinois once again had high concentrations of the most-at-risk markets in the country, with parts of Florida also joining that mix.

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Housing Wire

APRIL 12, 2024

After heating up like the rest of the country, the Louisiana housing market has continued to cool since interest rates began to rise in the second half of 2022. We have an insurance problem,” said Charlotte Johnson , a Keller Williams agent based in Mandeville. “We Our insurance is pricing people out of their homes.”

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Housing Wire

OCTOBER 21, 2024

The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said. Big payouts from natural disasters are driving insurers to raise rates and pull back on coverage,” the report stated. A lot of times that’s not happening right now.”

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Housing Wire

FEBRUARY 27, 2025

With the uptick in the severity and frequency of these natural disasters , as well as the rising costs to rebuild and reinsure, more real estate professionals and consumers are finding homeowners insurance to be a far greater concern than ever before. That has changed. The first is the frequency and severity of natural disasters.

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Housing Wire

FEBRUARY 18, 2025

On Friday, California insurance commissioner Ricardo Lara rejected State Farm s request for emergency rate increases , going against the recommendation of his staff experts. The request from State Farm involved insurance rate increases that would have gone into effect on May 1, 2025. in 2022, 6.9% in 2023 and 20% in 2024.

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Housing Wire

FEBRUARY 27, 2025

American homeowners are struggling to keep up with unpredictable natural disasters and the rising homeowners insurance premiums that follow them. Residents are more willing to move if it means avoiding high insurance rates, according to a new study from mortgage technology company Maxwell.

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Housing Wire

FEBRUARY 11, 2025

The Supreme Court of Hawaii this week decided that insurance companies seeking to file their own suits against those deemed responsible for 2023s devastating wildfires on the island of Maui cannot proceed, paving the way for a $4 billion settlement to continue, according to reporting from the Associated Press (AP). Supreme Court.

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Sacramento Appraisal Blog

APRIL 24, 2024

Insurance has been a glaring mess in California, and it’s really starting to affect the housing market. Today, I want to share some things I’m hearing from the real estate community after asking for feedback on my social channels about home and fire insurance.

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Appraisal Buzz

MARCH 4, 2025

Property insurance costs for mortgaged single-family homes increased a record $276 or 14% to an average of $2,290 per year in 2024, according to ICE Mortgage Technologys latest Mortgage Monitor report. percent of borrowers switched insurance providers in 2024, up from 9.4 Among the major U.S. Among the major U.S. A record 11.4%

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Housing Wire

NOVEMBER 22, 2024

housing market slowed down in the third quarter due to rising home prices and higher mortgage rates , investor purchases also ramped down, according to a new report by Redfin. in neighboring Fort Lauderdale, indicating growing apprehension for the Florida housing market. As the U.S. Now there’s a middle ground.

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Housing Wire

MAY 14, 2024

The firm attributed its stronger results to better performance from both its F&G segment and its title insurance segment. Looking ahead, while Nolan believes that the housing market will rebound, he noted that the timing is “uncertain and largely dependent on lower mortgage rates.” “In The firm’s title segment reported $1.7

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Housing Wire

OCTOBER 4, 2024

After a slow start to the year, the housing market picked up the pace during the second quarter. For the title insurance industry, this meant an uptick in title insurance premium volume, which came in at $4.09 Top underwriters for the quarter by market share included First American Title insurance Co.

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Housing Wire

JANUARY 25, 2024

Homeowners in California now have even fewer choices in homeowners insurance carriers. The Hartford Financial Services Group , better known as The Hartford, announced Wednesday that it would no longer issue new homeowners insurance policies in California starting in February 2024. Unitrin Auto and Home Insurance Co.

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Housing Wire

MARCH 28, 2024

Florida is reckoning with a severe homeowners insurance crisis. The recent surge in both the frequency and intensity of hurricanes that have battered the state has prompted numerous insurers and reinsurers to exit the market , leaving Florida homeowners grappling with skyrocketing premiums and limited coverage options.

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Housing Wire

FEBRUARY 27, 2025

Florida was one of the hottest destinations during the pandemic, but the states housing market might be coming down to earth. Natural disasters like Hurricane Milton have caused home insurance rates to surge and many homeowners left the state as a result. year over year.

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Housing Wire

MARCH 22, 2024

Unlike many other metropolitan areas across the country , the housing market in Southwest Florida is comparably flush with for-sale inventory. “I According to an analysis by S&P Global , between 2018 and 2023, homeowners insurance rates in Florida have jumped by 43.2%. homeowners insurance policy was roughly $1,700 in 2023.

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Housing Wire

OCTOBER 8, 2024

The strength of the storm has prompted officials to call for an evacuation, one that has already had a stark impact on the city’s housing market. People trying to get out of the way of a major hurricane aren’t overly concerned with putting their house on the market. New listings in Tampa were at 775 on Sept.

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Housing Wire

JANUARY 22, 2025

Mortgage escrow accounts are an important, yet widely misunderstood asset in the housing market. LERETA highlighted that 68% have experienced monthly mortgage payment increases due to rising property taxes and insurance premiums. Meanwhile, 27% would do the same if insurance costs skyrocketed.

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Housing Wire

NOVEMBER 11, 2021

That’s nearly as much as it costs to deliver a newborn, on average, even with employer-provided health insurance , and quite a bit more than the $3,900 the average woman earns each month. Profit margin compression and a tight housing market – What’s a lender to do? Presented by: Black Knight.

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Housing Wire

APRIL 8, 2024

Insurance companies are leveraging aerial images of homes to drop properties deemed too risky, according to a report by The Wall Street Journal. Insurance companies use drones, manned airplanes and high-altitude balloons to take pictures of almost every building in the U.S., most of the time without the owner’s knowledge. population.

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Housing Wire

SEPTEMBER 12, 2024

housing market. This means that baby boomers have the most economic power when it comes to housing markets, as sellers are more likely to accept offers where financing is least likely to fall through.” Retirement often signals a major shift in a person’s life.

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Housing Wire

FEBRUARY 4, 2025

Homeowners in California with an insurance policy from State Farm could see a 22% rate hike. The insurer sent a letter to the California Department of Insurance on Monday that described its dire financial situation due to the wildfires in Los Angeles County and a request for an emergency insurance rate hike.

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Housing Wire

JULY 24, 2024

While there is no doubt that the Florida housing market has slowed since the height of the post-pandemic homebuying boom, the state’s condominium market has been especially hard hit, according to local agents. “It Altos’ data shows that the 90-day median time on market jumped from 49 days a year ago to 70 days as of mid-July.

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Housing Wire

JULY 25, 2024

Home insurance premiums have risen by as much as $865 this year for homeowners who originally purchased their policies in 2021. In response, the mortgage industry and federal regulators are aiming to determine the best courses of action to mitigate the financial burdens on both homeowners and insurance carriers.

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Housing Wire

JANUARY 24, 2024

Limited housing supply and a continuation of high home prices in many markets nationwide in 2023 restricted many first-time homebuyers from entering the housing market and finding their dream homes. What is title insurance? There are two forms of title insurance: an owner’s policy and a lender’s policy.

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Housing Wire

MARCH 25, 2024

According to a Freddie Ma c housing and mortgage market report released Monday, while mortgage payments remain the primary pressure point for homeowners, insurance costs are emerging as a growing burden. Homeowners insurance costs, though still much smaller than mortgage principal and interest payments, are on the rise.

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Housing Wire

JUNE 21, 2022

As someone who spent a career in the title insurance industry – both as a builder of a title business and leader of the industry’s trade group, — I am proud of the role we play in helping to protect what most Americans consider the biggest purchase of their lives. Why is a title search necessary for refinancing?

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Sacramento Appraisal Blog

MAY 23, 2024

It wasn’t on my housing market bingo card to be paying such close attention to insurance, but this is a huge deal for California (and some other states). I promise this won’t become an insurance crisis blog, but today I have some brand new stats to share for Sacramento and the Bay Area.

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Housing Wire

FEBRUARY 5, 2025

Jeremy Porter, the company’s head of climate implications research, said that homeowners insurance costs and migration patterns may also shift. “Climate change is no longer a theoretical concern; it is a measurable force reshaping real estate markets and regional economies across the United States, Porter said.

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Housing Wire

SEPTEMBER 26, 2024

Real estate data company StreetWire has partnered with Northern California MLS MetroList to produce an insurance product called Home Value Lock. The coverage is good for three years after the closing date on a home purchase, and the insurance covers up to 10% of the original purchase price.

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Housing Wire

JUNE 26, 2024

The Florida housing market faces an outsized risk from weather events and larger climate issues. Not surprisingly, the state also has the highest average cost for homeowners insurance , and that cost is rising. Not surprisingly, the state also has the highest average cost for homeowners insurance , and that cost is rising.

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Housing Wire

SEPTEMBER 9, 2024

Why is homeowners insurance so expensive in the Upper Midwest? The growing prevalence of extreme weather events and the high cost of construction are pushing property insurers to significantly raise their prices , even in places you might not expect. The cost to maintain homeownership is an important factor in housing affordability.

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Appraisal Buzz

FEBRUARY 4, 2025

Drawing on research that examines climate risk awareness, housing market dynamics, climate migration patterns, and demographic and socioeconomic shifts, Property Prices in Peril offers a forward-looking analysis of the Housing Price Index (HPI), property valuation trends, and localized Gross Domestic Product (GDP) impacts extending to 2055.

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Appraisal Buzz

DECEMBER 16, 2024

But that benefit is beginning to be offset by a surge in insurance costs and HOA fees caused by intensifying natural disasters ,along with rising property taxes. This gives buyers leverage when theyre negotiating with other insurers. Buyers are also considering how much theyll have to pay for insurance when writing offers, he said.

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