Published 5 months ago

High insurance costs dragging down Florida condo prices, Redfin report says

Summary by Ground News

Redfin agents report that Florida's condo sales are slow because the cost of buying a condo has shot up. Attorney Jim Brown said there are several factors affecting condos now. Earlier this month, condo insurer Castle Key cited more frequent severe storms, high repair costs and reinsurance in seeking a rate increase.

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High insurance costs dragging down Florida condo prices, Redfin report says

A new report indicates insurance costs are slowing down condo prices in Florida.Redfin is reporting new data shows the rising cost of insurance is driving up HOA fees, slowing demand and lowering prices."Redfin agents report that Florida's condo sales are slow because the cost of buying a condo has shot up, and listings are skyrocketing because the cost of owning a condo has shot up," reads a release from the firm. "What I can tell you is that w…

5 months ago

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