Southwest Florida Housing Markets Hit by Hurricane Ian Bouncing Back

According to national property broker Redfin, listings of homes for sale in the several Southwest Florida cities like the Cape Coral-Fort Myers metropolitan area have recovered after plunging in the wake of Hurricane Ian last fall, and sales have begun to bounce back.

Home Asking Rents Dip in the West, Yet Rise in Eastern U.S.

According to Redfin, the median U.S. asking rent fell 0.6% year over year to $1,995 in May 2023 -- the largest annual rent decline since March 2020. That compares with a near-record 16.5% increase one year earlier. May's drop also represented the first annual decline since March 2020 on a revised basis. The median asking rent rose 1.4% from a month earlier in May.

Self-Storage Property Sales in U.S. Hit $10 Billion in 2022, Down 19 Percent Annually

According to Yardi Matrix data, 2022's total dollar volume of storage facility sales in the U.S. totaled around $10 billion. That represented an 18.7% decrease over the previous year.

FEMA Paid Out $3.9 Billion in Flood Insurance Payments from Hurricane Ian

According to new data from the Federal Emergency Management Agency, months after Hurricane Ian swept across the southeast United States in 2022, FEMA's National Flood Insurance Program (NFIP) has paid over $3.9 billion to more than 48,000 policyholders.  

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