Preliminary property loss estimates in Florida from Hurricane Irma, total insured and uninsured loss for both residential and commercial properties, including damage from both flood and wind, is estimated to be between $42.5 billion and $65 billion.
According to Irvine, Ca-based CoreLogic, an estimated 8,456,455 residential and commercial properties in Florida are at either "Extreme," "Very High" or "High" risk of wind damage from Hurricane Irma.
The potential exposure to residential property damage from hurricane-driven storm surge flooding is very significant as Hurricane Matthew makes its way toward the U.S. Atlantic Coast today.
STR is reporting this week that their Baird/STR Hotel Stock Index increased 0.9% in August to close the month at 3,349. Year to date, the index is up 8.2%. The Hotel Brand sub-index reported a 1.5% increase to 4,366 in August.
According to the National Association of Realtors, U.S. pending home sales expanded in most of the country in July 2016, and reached their second highest reading in over a decade. Only the Midwest saw a dip in contract activity last month.
Sales of newly built, single-family homes in the U.S. rose 3.5 percent in June 2016 from an upwardly revised May 2016 reading to a seasonally adjusted annual rate of 592,000 units.
The American Institute of Architects is reporting this week that buoyed by increasing levels of demand across all project types, the Architecture Billings Index (ABI) was positive in June 2016 for the fifth consecutive month.
Based on Freddie Mac's latest Primary Mortgage Market Survey, average fixed mortgage rates in the U.S. dropped to new 2016 lows in the wake of the Brexit vote.
According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 24, 2016, U.S. mortgage applications decreased 2.6 percent from one week earlier.
According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in the U.S. dropped 6 percent in May 2016 from a downwardly revised April 2016 reading to a seasonally adjusted annual rate of 551,000 units.
268,000 U.S. homeowners regained positive equity in Q1 2016, bringing the total number of mortgaged residential properties with equity at the end of Q1 2016 to approximately 46.7 million.
According to Irvine, Ca-based RealtyTrac's First Quarter 2016 U.S. Foreclosure Market Report, foreclosure activity in the U.S. was below pre-recession levels in 78 out of 216 U.S. metropolitan statistical areas (36 percent).
Cash sales accounted for 33.4 percent of total home sales in December 2015 and 33.9 percent of total home sales for the full year 2015
Foreign real estate buyers continue to strengthen the Miami and South Florida real estate market, accounting for 36 percent or $6.1 billion of total sales volume.
Technology firms and start-ups aren't just exploring new U.S. markets, and they're starting to plant roots.
Irvine, Ca based CoreLogic is reporting cash sales in the U.S. accounted for 31.7 percent of total home sales in August 2015, down from 34.9 percent in August 2014.
CoreLogic is reporting that cash sales in the U.S. made up 30.8 percent of total home sales in July 2015, down from 34.2 percent in July 2014.
CoreLogic is reporting this week that cash sales made up 31.3 percent of total home sales in June 2015, down from 33.9 percent in June 2014.