In 2024, the title industry encountered a rise in claims payments, exceeding $676 million, up from $638 million the previous year. Despite challenges such as limited housing inventory and high mortgage rates, professionals in the field remain dedicated to protecting property rights. Texas, Florida, California, New York, and Pennsylvania maintained their positions as the states with the largest title premium volumes, all showing year-over-year increases. First American Title insurance Co. led the market share among underwriters, although the dominance of the Big Four has slightly waned in recent years.
In 2024, the title industry faced increased claims totaling over $676 million, reflecting ongoing housing market challenges but continued commitment from professionals to uphold property rights.
Despite limited housing inventory and elevated mortgage rates, title professionals remain steadfast in their role protecting property rights and serving their communities, as highlighted by ALTA CEO Diane Tomb.
Top underwriters in 2024 showed First American Title leading with 22.2%, and despite shifts in market dynamics, the Big Four still maintain a major market share.
California recorded the largest year-over-year premium volume increase at 10.1% in 2024, while Florida posted the smallest gain at 3%, indicating variances in market performance across states.
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