Florida Home Sales Plummet After Hurricanes, Higher Insurance Costs -- Market Talk

Dow Jones2024-11-19

1050 ET - Homes sales are sinking in Florida amid hurricane recovery and rising HOA fees. Florida is home to the five U.S. metropolitan areas where pending home sales are falling fastest, according to Redfin. In Fort Lauderdale, pending sales dropped 15.2% year over year during the four weeks ending Nov. 10. Next came Miami, down 14%, and West Palm Beach at 13.8%. Nationwide, pending sales rose 4.7% over the same period. Florida's housing market has been slowing for months as residents grapple with hurricanes, a surge in home insurance costs and higher HOA fees. The state also has a housing affordability crisis, with higher home prices and property taxes. There's still some demand for vacation homes, but in general, the market is very slow. (chris.wack@wsj.com)

(END) Dow Jones Newswires

November 19, 2024 10:50 ET (15:50 GMT)

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Florida is home to the five U.S. metropolitan areas where pending home sales are falling fastest, according to...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2484921521","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484921521","pubTimestamp":1732031400,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1050 ET - Homes sales are sinking in Florida amid hurricane recovery and rising HOA fees. 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