Tag: Florida housing market

Why Florida’s Housing Market Is Cooling Down Faster Than Expected

Archie Walsh
Florida's Housing Market

Florida Housing Market Experiences a Slowdown Florida’s housing market has witnessed a notable cool-down, with several metro areas experiencing a sharp decline in home sales over the past year. While Florida has been a hot spot for buyers and investors, recent trends indicate a shift in this dynamic, particularly in cities such as West Palm Beach. Home Sales Decline Across the State According to a report from real estate company Redfin, pending home sales in West Palm Beach dropped by 13.8% year over year during the four weeks ending November…

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Mortgage struggles on the horizon as Florida home insurance problems continue

G. Turner
Home Insurance - Mortgage calculations - Florida Flag

As the coverage crisis continues in the state, there is a risk of a real estate market downturn. As the home insurance crisis drags on in Florida, the risk could increase for a downturn in the state’s real estate market, with a threat of mortgage struggles. Major insurers have been stepping out of the state and have stopped selling new policies. Home insurance customers in Florida are paying the highest premiums in the United States. Residents of the state pay an average $6,000 annual premium to private insurers according to…

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