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The upward rise in costs for homeowner insurance in Florida resumed during the first quarter of 2025, with average premium costs edging higher after dipping slightly in late 2024, new data released by the Florida Office of Insurance Regulation shows.

The average premium paid by owners of single-family homes in Florida increased by 0.3% — climbing from $3,646 to $3,658 — between the fourth quarter of 2024 and the first quarter of 2025, according to a South Florida Sun Sentinel comparison of figures released in the office’s quarterly Residential Market Share Report.

Condo unit owners saw their costs increase by 0.8%, from $1,714 to $1,729 during the period, the data shows.

Since the enactment of reforms in 2022 aimed at sharply reducing litigation costs for insurers, average premiums have increased 30.7% for homeowners and 28.8% for condo unit owners.

The first-quarter hikes followed cost decreases of less than 1% for homeowner policies and 1.7% for condo unit policies during the fourth quarter of 2024. That was the only quarter with cost decreases since the release of the reports began in 2022. read more

A Miami-based developer chosen to redevelop the now-demolished Griffin Park housing project in Parramore has approached the city of Orlando with plans for a transformative, mixed-income community built around four apartment towers abutting I-4.

The conceptual plan from Property Markets Group for the roughly nine-acre site at 520 Callahan Dr. calls for 1,000 apartments, 725 of which would be affordable, and incorporates a grocery store in the development. The tallest building, on the eastern portion of the land, would be an 18-story tower with 275 market-rate apartments for families. According to a site plan, the other three towers would rise ten stories each, with a total of 565 affordable units for families and 160 affordable units for seniors.

The project as conceived would make a milestone for Orlando and the Parramore neighborhood, trading the disgrace of decrepit public housing for the lure of brand-new, below-market apartments primarily serving the region’s struggling families.

Dan Coakley, a Principal with PMG, chosen by the Orlando Housing Authority to redevelop the site, said that the plans are still preliminary and are subject to change, but that his company is committed to the effort. read more

A Reddit user recently asked for advice on ways to stop thinking about money nonstop.

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It’s hard, the user explained, to avoid fixating on personal finances. Comparing yourself to others can be tempting, even though doing so doesn’t feel good or productive.

Other users jumped in to offer tips, such as talking to a therapist, finding a new hobby, scaling back on social media and saving enough for a sufficient safety net.

Financial experts say focusing on your own financial plan is the best way to avoid thinking too much about what other people might be doing. read more

By MICHELLE L. PRICE, MARC LEVY and DARLENE SUPERVILLE, Associated Press

WEST MIFFLIN, Pa. (AP) — President Donald Trump on Friday told Pennsylvania steelworkers he’s doubling the tariff on steel imports to 50% to protect their industry, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods.

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In a post later on his Truth Social platform, he added that aluminum tariffs would also be doubled to 50%. He said both tariff hikes would go into effect Wednesday. read more

By ALEX VEIGA, Associated Press Business Writer

LOS ANGELES (AP) — Homeowners eager to sell may have to wait a while before a buyer comes along.

As of April, the U.S. housing market had nearly 34% more sellers than buyers shopping for a home, according to an analysis by Redfin.

Aside from April 2020, when the pandemic brought the economy and home sales activity to a standstill, there haven’t been this few buyers in the market for a home before, based on records that date back to 2013.

The trend is good news for home shoppers — if they can afford to buy at current mortgage rates and prices, which are still rising nationally, albeit more slowly.

Fewer buyers means less competition for home listings and more pressure on sellers to dial back their asking price and make other concessions to help get a deal done. That’s a stark reversal from just a few years ago, when it wasn’t uncommon for homeowners to receive offers well above their asking price from multiple home shoppers.

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