Government shutdown threatens thousands of Florida home sales

"The federal government shutdown has suspended the National Flood Insurance Program, putting thousands of real estate transactions at risk. Industry leaders warn the halt could derail about 1,400 home sales daily across more than 22,000 communities, HousingWire Media's Jonathan Delozier reports. The American Land Title Association told HousingWire Media, NFIP's stability is critical to keeping the market moving. Real estate transactions are especially vulnerable during a government shutdown. The National Association of Realtors reports the NFIP supports roughly half a million home sales annually."

"Shannon McGahn, NAR's chief advocacy officer, told HousingWire, Each day of the shutdown impacts America's housing market. This sector accounts for nearly 20% of the U.S. economy. Without congressional action, more buyers and sellers in flood-prone areas could face: Canceled closings Higher premiums from lender-placed coverage Lost financing Florida's housing market faces particular exposure to the NFIP lapse. As of Sept. 26, 2025, HW Data shows the state had 28,149 pending single-family homes with a $425,000 median price."

The National Flood Insurance Program has been suspended by the federal government shutdown, threatening thousands of real estate transactions and potentially derailing about 1,400 home sales daily across more than 22,000 communities. NFIP supports roughly half a million home sales annually, generating one million jobs and $70 billion in economic activity. Each day of the lapse affects a housing sector that accounts for nearly 20% of the U.S. economy. Buyers and sellers in flood-prone areas risk canceled closings, higher lender-placed premiums, and lost financing. Florida faces particular exposure with tens of thousands of pending homes and the highest number of NFIP policies, risking frozen coastal transactions.

Read at www.housingwire.com