Florida regulators have approved proposals by three insurers to take up to 54,386 policies from the state’s Citizens Property Insurance Corp. in May. TALLAHASSEE, Fla. – Florida regulators Thursday approved proposals by three insurers to take up to 54,386 policies from the state’s Citizens Property Insurance Corp. in May. The approvals, signed by Insurance Commissioner Michael Yaworsky, are part of what is known as a “depopulation” program aimed at moving policies from Citizens into the private market. Insurers have received a series of approvals in recent months to remove batches of Citizens policies. The approvals Thursday would allow Slide Insurance
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HUD and Census Bureau: In Jan., new single-family home sales rose 1.5% month-to-month to a seasonally adjusted rate of 661,000. The pace is up 1.8% from Jan. 2023. WASHINGTON – Sales of new single-family homes in January increased 1.5% to a 661,000 seasonally adjusted annual rate from a downwardly revised reading in December, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in January is up 1.8% from a year earlier. The January reading of 661,000 units is the number of homes that would sell if
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By Dan Weisman Real estate professionals who are watching, learning, and adapting will reap the benefits of new technologies, as the industry is starting to see with generative AI. CHICAGO – It’s been a profitable few years for Big Tech – the dominant technology industry giants defined by their size, influence and financial success (namely Amazon, Apple, Google, Meta, Microsoft and newcomer Nvidia). And these big tech giants could set their sights on real estate in numerous ways. As the development and market implementation of new technologies accelerate, Big Tech is in an increasingly intense race to invest in –
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Economists at International Builders’ Show: Construction should gradually increase as the Fed is on track to cut rates during 2024’s second half with inflation slowing. LAS VEGAS – While higher interest rates pushed single-family starts down in 2022 and 2023, production should move on a gradual upward path in 2024 as the Federal Reserve is on track to cut rates during the second half of the year with inflation slowing, according to economists speaking at the National Association of Home Builders (NAHB) International Builders’ Show in Las Vegas today. “While the Fed’s fight against inflation is building progress, the lingering
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