OVER THE NEXT TWO YEARS, HOMEOWNERS COULD EXPERIENCE RISE IN INSURANCE COSTS

via themortgagepoint.com—An uptick in natural disasters and rebuilding costs could lead to homeowners being hit with insurance premiums going up another 16% over the next two years, Fox Business reported.

The report by Fox said that real estate analytics firm Cotality projected that the average homeowner insurance premium is expected to rise 8% in 2026, followed by another 8% in 2027.

John Rogers, Cotality’s Chief Data and Analytics Officer, said at a conference that those premiums have been “rising dramatically” over the last few years, with some areas experiencing double-digit growth. He said that insurance now accounts for 9% of the typical U.S. homeowner’s payment.

That is the “highest average on record of a person’s outlay in terms of principal, interest, property tax, and insurance premiums,” Rogers said.

Higher Rebuilding Costs Drive Increases

Danielle Hale, Chief Economist at Realtor.com, said that the higher cost of rebuilding, a reflection of both overall inflation and some housing supply-chain specific trends, is the driving force behind the higher premiums.

Hale also said that “more frequent disasters have resulted in more damage and increasing claims, trends insurers are trying to get ahead of.”

Hale said that Realtor.com research revealed that a “significant chunk of the U.S. housing stock” faces severe or extreme climate risk, ranging from more than 6% for flooding, 18% for wind risk, and 6% for wildfire.

According to Hale, trillions of dollars worth of real estate are exposed to significant risk.

Citing a September report, Realtor.com said that coastal markets dominate the list of metropolitan areas that have the highest dollar value of homes exposed to severe or extreme flood risk. The Miami–Fort Lauderdale–West Palm Beach, Florida, market ranks first.

Roughly $306.8 billion in total home value is at risk, the report said…READ MORE

The Current Miami Springs Market

DEMAND IS STILL THERE DESPITE HIGHER INTEREST RATES

There are forty-three (43) active listings in the Miami Springs/Virginia Gardens market this week. High prices remain but we are seeing more price decreases on active listings. There is much uncertainty and demand has slowed, but there are still qualified buyers looking for the right property. The right house is still out there. It all depends on pricing, condition, location, and of course, timing. Timing is everything!

There are eighteen (18) active listings over $1 million. Two listings are over $2 million! Almost 50% of the active listings have had a price decrease, one (1) this week. Days on the market (DOM) is averaging around 62. Mortgage interest rates are expected to fluctuate between 6-6.5% the rest of the year. You will see better mortgage rates early next year.

Inventory Breakdown:

There is one (1) property under $600,000; six (6) properties are priced between $600,000-$700,000; twelve (12) between $700,000-$800,000; four (4) between $800,000-$900,000; two (2) are priced between $900,000-$1,000,000; sixteen (16) between $1-2 million; and two (2) are listed for over $2 million.

CALL US FOR AN EVALUATION

During the period of December 5, 2025 through December 12, 2025, there were reported 3 new listings, 0 closed sales, 2 pending sales, 0 active with contract, 0 expired listings, 0 cancelled listings, 1 temp off market, 1 price reductions, and 0 price increases.

HOW DOES YOUR HOUSE COMPARE?

The table below shows the current status of the Miami Springs/VG real estate market as of December 12, 2025. All closed sales are within the last 90 days.

*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.

 A complete list of all the properties for sale in Miami Springs or any other area of 

Miami-Dade County can be sent to you on regular basis. 

Request it at:  charlie@leonardrealestategroup.com

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