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Key West

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%.

$8.1 Billion of Florida Mortgage Transactions at Risk Post Hurricane Ian

Based on new research by CoreLogic, more than 22,282 pending mortgage transactions currently in progress in Florida's 20 affected counties are in jeopardy from storm surge and flooding caused by the recent hurricane, Ian. Nearly 14,000 are purchase transactions where the state's average home sales price is $452,000 (as of June 2022).

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.

Luxury Home Sales in U.S. Plummet 28 Percent Annually in Q3

Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022. That's the biggest decline since at least 2012, eclipsing the 23.2% plunge that occurred when the onset of the coronavirus pandemic brought the housing market to a near standstill roughly two years ago.

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