Jupiter Real Estate News
Jupiter
U.S. Mortgage Applications Dip Again in Mid-October
Based on new data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending October 21, 2022, U.S. mortgage applications decreased 1.7 percent from one week earlier.
Pending Home Sales Plummet Over 50 Percent in Hurricane Ian Stricken Florida Cities
According to national property broker Redfin, pending home sales plunged 58% year over year in the Cape Coral, FL metro area during the four weeks ending Oct. 16, 2022, in the aftermath of Hurricane Ian. That's nearly twice the nationwide decline of 32%.
Palm Beach County Overall Home Sales Down 25 Percent Annually in September
According to the Miami Association of Realtors, total Palm Beach County residential sales decreased 25.5% year-over-year in September 2022, from 2,830 to 2,109, because of rising mortgage rates and low inventory.
Property Damage from Hurricane Ian Now Estimated Between $41 Billion to $70 Billion
According to new data analysis by CoreLogic, total flood and wind losses are between $41 billion and $70 billion. This estimate includes wind loss, re-evaluated insured and uninsured storm surge loss and newly calculated inland flood loss for residential and commercial properties.
