CoreLogic

The share of underwater mortgages also grew for the first time in almost two years during the third quarter, Corelogic found.

Half a million single-family and multifamily homes in Tampa Bay and Sarasota are at risk of storm surge damage, Corelogic's report said.

The new tool, dubbed Araya, utilizes data available in several of the technology firm's lines of business, including its climate risk division.

Total insured wind and flood losses are predicted to be between $10.5 billion and $17.5 billion, according to CoreLogic. Earlier estimates placed the cost of insured damages between $3 billion and $5 billion.

The total insured wind and storm surge losses in Texas will be between $700 million and $1.5 billion, Corelogic estimates.

Also, Freddie Mac boosts single-family seller engagement team, Carrington names new CEO and Corelogic ads executive in real estate solutions.

Housing costs increased at the slowest pace in over a decade nationwide, even while monthly growth now exceeds its pre-pandemic level.

But late borrower payments slightly grew in November, with 18 metro areas reporting an increase, up from six metro areas in October, CoreLogic's report found.

The overall share of distressed mortgages fell in every state, but the effects of Hurricane Ian led to a small uptick in early-stage late payments compared to one year ago, CoreLogic said.

Over 1 million single-family and multifamily homes along the coast are at risk of storm surge damage.