Florida

Sentiment among America’s homebuilders fell more than forecast in September as companies grew concerned about the cost of construction materials and labor shortages in the wake of Hurricanes Harvey and Irma.

Orlando’s housing market ended the strongest sales season of the year with median prices rising 2% and sales up 4.8% in August from a month earlier.

More than 90% of all mortgaged properties in Florida are in a FEMA-designated disaster area following Hurricane Irma, nearly three times the number impacted by Hurricane Harvey, according to Black Knight.

Hurricane Irma hit Central Florida’s home construction industry in more ways than one.

Banks could be busy supplying credit to manufacturers, hotels, multifamily developers and other businesses that will be helping residents get their lives back on track after two fierce storms.

Damage from Hurricane Irma could potentially put billions of dollars in commercial mortgage-backed securities at risk, according to Morningstar Credit Ratings.

Qualified residents of 37 Florida counties can access aid including mortgage assistance and unemployment aid. They are also eligible for late-fee forgiveness on JPMorgan Chase loan payments.

Stranded without power in the wake of Hurricane Irma, thousands of South Florida seniors have found themselves trapped without access to elevators, air conditioning, telephones and even medical devices.

Lennar Corp. anticipates that hurricane-related damage will delay its new-home deliveries temporarily, adding to home-inventory challenges in the mortgage market in the short-term.

Not every housing market is dealing with an inventory shortage, as over one-third of respondents said there was excess supply in their local area, according to a First American Financial survey.