Reported about 11 hours ago
Homeowners insurance premiums have surged 70% since late 2019, now averaging nearly $2,370 annually, raising concerns among homebuyers about affordability. This increase, exacerbated by rising disaster-related costs and inflation, disproportionately affects first-time and lower-income buyers, with many fearing they can't manage soaring insurance expenses amid already high home prices and mortgage rates.
Source: YAHOO