Nearly one-third of U.S. residents between 18 and 34 years old say they are reconsidering where they want to move after seeing the damage wrought by Hurricane Helene, according to a Redfin report.
About 15% of those over age 35 echoed their younger cohort’s sentiment. “Americans are beginning to realize that nowhere is truly immune to the impacts of climate change, and we're starting to see that impact where people want to live—even people who haven't experienced a catastrophic weather event firsthand,” said Redfin chief economist Daryl Fairweather.
The state of the homeowner insurance market has survey respondents concerned. Nearly a quarter of all respondents to the survey expect insurance premiums in their area to increase after Hurricane Helene. About 13% of respondents think Helene will make it harder to get homeowners insurance.
Severe storms appear to be having a significant impact on Florida’s housing market. Home sales in some Florida markets have been flat for more than a year after doubling between 2017 and 2024. In Tampa, Orlando, and much of the Space Coast, inventory of single-family homes and condominiums is up more than 50% year-over-year.
Related Stories
MFPRO+ New Projects | Jul 31, 2024
Shipping containers converted into attractive, affordable multifamily housing in L.A.
In the Watts neighborhood in Los Angeles, a new affordable multifamily housing project using shipping containers resulted in 24 micro-units for formerly unhoused residents. The containers were acquired from a nearby port and converted into housing units at a factory.
MFPRO+ News | Jul 24, 2024
Most popular cities for renters mid-2024
Rental activity in the U.S. continues to grow halfway through 2024. With the work-from-home boom stabilizing, more renters are eying desirable cities to relocate to.
MFPRO+ News | Jul 22, 2024
Miami luxury condominium tower will have more than 50,000 sf of amenities
Continuum Club & Residences, a new 32-story luxury condominium tower in the coveted North Bay Village of Miami will feature more than 50,000 sf of indoor and outdoor amenities. The program includes a waterfront restaurant, dining terraces with resident privileges, and a private dining room outdoor pavilion.
MFPRO+ News | Jul 22, 2024
6 multifamily WAFX 2024 Prize winners
Over 30 projects tackling global challenges such as climate change, public health, and social inequality have been named winners of the World Architecture Festival’s WAFX Awards.
MFPRO+ News | Jul 15, 2024
More permits for ADUs than single-family homes issued in San Diego
Popularity of granny flats growing in California
Vertical Transportation | Jul 12, 2024
Elevator regulations responsible for some of ballooning multifamily costs
Codes and regulations for elevators in the United States are a key factor in inflating costs of multifamily development, argues a guest columnist in the New York Times.
MFPRO+ New Projects | Jul 10, 2024
3 noteworthy multifamily projects for July 2024
These three multifamily projects on our radar include an artist-inspired complex, seven-acres of senior housing, and a budget-conscious rental community.
MFPRO+ News | Jul 8, 2024
Boston receives 304 new market-rate and affordable housing units
The Smith No. 99 in Boston, Mass., is a new 305,000-sf mixed-use apartment community featuring 304 market rate and affordable housing units.
MFPRO+ New Projects | Jul 2, 2024
Miami residential condo tower provides a deeded office unit for every buyer
A new Miami residential condo office tower sweetens the deal for buyers by providing an individual, deeded and furnished office with each condo unit purchased. One Twenty Brickell Residences, a 34-story, 240-unit tower, also offers more than 60,000 sf of exclusive residential amenities.
Senior Living Design | Jun 28, 2024
The country’s largest retirement community expands with educational facilities
The project will include a high school, a K-8 school, and an Early Learning Center aimed at serving the children of residents who work in qualified businesses within The Villages.