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Economic Times
09-07-2025
- Business
- Economic Times
Cape Coral signals a housing market crash, what is happening in this Florida city
What is happening in Cape Coral Live Events The downturn begins Reasons behind the downturn (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Florida's Cape Coral is currently sitting on the verge of one of the worst housing markets in all of America, and experts believe that the situation is likely to escalate further soon. This situation, caused by a sharp decline in home prices, has created turmoil in the real estate industry, with many experts calling it a precursor to the 2008 US financial agents who spoke with HousingWire believe that the southwest Florida city is experiencing a natural market correction, and it cannot be called a the 2008 financial crisis occurred due to subprime mortgages, speculative buying, and a lack of oversight on the mortgage market, the situation in the Cape Coral housing market has been triggered mainly by high mortgage rates , rising inventory, and growing economic uncertainty at the national housing market in Cape Coral exploded during the COVID-19 pandemic, which began in 2020. This was the time when new people flocked to the city due to it being a comparatively affordable town in Florida. The homes that were up for sale were bought quickly, which drove up prices. According to Redfin, the median sale price of a home in the city rose from $239,020 to $436,475 between May 2020 and May median home sale price in the Cape Coral-Fort Myers metro area jumped nearly 75%, peaking at $441,000 during these two years. Following this surge, the area became one of the fastest appreciating housing markets in the country, which meant that a pullback was not only on the cards but also kind of 2023, when the market across the US witnessed a brief price correction, Cape Coral's housing market was on a downturn. In May 2023, the median sale price of a home had plunged by 5.3 percent in comparison to 2022 to $413, May 2024, it was down to $391,200, which is a drop of another 5.3 percent year-over-year. And in May 2025, the median sale price of a home in Cape Coral was down to $361,250, 7.7 percent less than a year earlier.A recent article from The Wall Street Journal shed light on falling home prices, empty open houses, and investor pullbacks. An analysis of home prices in the Florida city conducted by for America's leading daily revealed that home prices in the Cape Coral metropolitan statistical area witnessed a drop of 11 percent in the two years through May. This is reportedly the most of any metro area in the country in that same situation prevailing in the city is quite similar to the rest of Florida. One of the main reasons is the imbalance between buyers and sellers in Cape Coral. According to Parcl Labs, currently, Cape Coral has a record surplus of 10,049 units, a 525 percent growth since 2022, and an absorption rate of 0.268, which is lower than the country's average of company reported that Cape Coral has also reached "unprecedented levels" of price reduction activity, with 55.35 percent of listings cutting prices, much more than the 34 percent nationwide Florida, a steep rise in new developments triggered by the pandemic boom also added to the significant increase in the available stock of for-sale homes. In May 2025, the state had 234,288 homes for sale, an increase of 14.2 percent as compared to 2024, including 45,771 newly listed listings are also rising because a smaller number of buyers are showing interest in the inventory due to long-standing affordability issues like high mortgage rates and rising costs. Another major reason behind the cooling down of demand across the Sunshine State is slow domestic migration, which is partially due to return-to-office orders across the challenges faced by Cape Coral are similar to those of the state, but the city also has some issues of its own. Hurricane Ian badly hit the city in September 2022, and its recovery has been strained by the other storms and flooding that followed that deadly growing frequency of natural disasters on the Southwest Florida coast has increased the cost of home insurance, while some carriers have cut coverage in the most at-risk areas of the state. According to MoneyGeek, home insurance in the Florida city costs an average of $640 per month, or $7,679 per year.
Time of India
09-07-2025
- Business
- Time of India
Cape Coral signals a housing market crash, what is happening in this Florida city
What is happening in Cape Coral Live Events The downturn begins Reasons behind the downturn (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Florida's Cape Coral is currently sitting on the verge of one of the worst housing markets in all of America, and experts believe that the situation is likely to escalate further soon. This situation, caused by a sharp decline in home prices, has created turmoil in the real estate industry, with many experts calling it a precursor to the 2008 US financial agents who spoke with HousingWire believe that the southwest Florida city is experiencing a natural market correction, and it cannot be called a the 2008 financial crisis occurred due to subprime mortgages, speculative buying, and a lack of oversight on the mortgage market, the situation in the Cape Coral housing market has been triggered mainly by high mortgage rates , rising inventory, and growing economic uncertainty at the national housing market in Cape Coral exploded during the COVID-19 pandemic, which began in 2020. This was the time when new people flocked to the city due to it being a comparatively affordable town in Florida. The homes that were up for sale were bought quickly, which drove up prices. According to Redfin, the median sale price of a home in the city rose from $239,020 to $436,475 between May 2020 and May median home sale price in the Cape Coral-Fort Myers metro area jumped nearly 75%, peaking at $441,000 during these two years. Following this surge, the area became one of the fastest appreciating housing markets in the country, which meant that a pullback was not only on the cards but also kind of 2023, when the market across the US witnessed a brief price correction, Cape Coral's housing market was on a downturn. In May 2023, the median sale price of a home had plunged by 5.3 percent in comparison to 2022 to $413, May 2024, it was down to $391,200, which is a drop of another 5.3 percent year-over-year. And in May 2025, the median sale price of a home in Cape Coral was down to $361,250, 7.7 percent less than a year earlier.A recent article from The Wall Street Journal shed light on falling home prices, empty open houses, and investor pullbacks. An analysis of home prices in the Florida city conducted by for America's leading daily revealed that home prices in the Cape Coral metropolitan statistical area witnessed a drop of 11 percent in the two years through May. This is reportedly the most of any metro area in the country in that same situation prevailing in the city is quite similar to the rest of Florida. One of the main reasons is the imbalance between buyers and sellers in Cape Coral. According to Parcl Labs, currently, Cape Coral has a record surplus of 10,049 units, a 525 percent growth since 2022, and an absorption rate of 0.268, which is lower than the country's average of company reported that Cape Coral has also reached "unprecedented levels" of price reduction activity, with 55.35 percent of listings cutting prices, much more than the 34 percent nationwide Florida, a steep rise in new developments triggered by the pandemic boom also added to the significant increase in the available stock of for-sale homes. In May 2025, the state had 234,288 homes for sale, an increase of 14.2 percent as compared to 2024, including 45,771 newly listed listings are also rising because a smaller number of buyers are showing interest in the inventory due to long-standing affordability issues like high mortgage rates and rising costs. Another major reason behind the cooling down of demand across the Sunshine State is slow domestic migration, which is partially due to return-to-office orders across the challenges faced by Cape Coral are similar to those of the state, but the city also has some issues of its own. Hurricane Ian badly hit the city in September 2022, and its recovery has been strained by the other storms and flooding that followed that deadly growing frequency of natural disasters on the Southwest Florida coast has increased the cost of home insurance, while some carriers have cut coverage in the most at-risk areas of the state. According to MoneyGeek, home insurance in the Florida city costs an average of $640 per month, or $7,679 per year.
Miami Herald
03-07-2025
- Business
- Miami Herald
CMG Financial's Courtney Thompson and Susan Walker Named 2025 HousingWire Women of Influence
SAN RAMON, CA / ACCESS Newswire / July 2, 2025 / CMG Financial, one of the nation's top mortgage lenders, is proud to announce that two of its Executive Vice Presidents, Courtney Thompson and Susan Walker, have been named to HousingWire's 2025 Women of Influence list. This prestigious award honors women in housing who are making notable contributions to both their organizations and the industry at large. With their innovative thinking, leadership, and vision for the future, Courtney and Susan exemplify what it means to lead with impact. "This year's honorees include mentors, innovators, and community leaders," wrote Lesley Collins, HousingWire Editor's Choice Awards Program Manager. "Many are paving the way for future generations through mentorship, volunteer initiatives, and by serving on boards that influence key industry practices. Collectively, their efforts are shaping not only their companies but also the communities they serve and the future of housing itself." Courtney Thompson, EVP of Servicing at CMG, has spent the past year tackling one of the biggest challenges in mortgage servicing: building a modern, borrower-first platform from the ground up. Tasked with developing a fully in-house servicing solution, she's led a bold effort to move beyond outdated legacy systems and create something built for today's consumer. Under her leadership, the platform has taken shape as a fully connected ecosystem-one that keeps loan officers involved post-close, gives borrowers access to personalized tools and insights, and reshapes how homeowners interact with their loans. It's not just a tech project-it's a reinvention of the servicing experience, and it's already drawing attention across the industry. Susan Walker, EVP of Corporate Efficiency at CMG, has spent the past year acting as the voice of the loan officer, translating feedback from top performers into meaningful enhancements to CMG's core platforms, CLEAR and Byte. By embedding herself directly with Product and Technology teams, she helped identify workflow inefficiencies and delivered rapid-fire improvements that drove adoption, boosted morale, and aided in bolstering these systems into competitive strengths. Her impact earned her a seat on the Executive Management Team, where she now oversees Post Closing, Vendor Management, and Product. In this new role, she continues to lead with the same hands-on, cross-functional approach, streamlining operations, reducing costs, and identifying upstream efficiency and alignment opportunities. Her results speak volumes: a West Division that topped $3B in volume, over 100 strategic hires, and a culture that now embraces technology more than ever before. Susan's work isn't just about optimizing systems, it's about building a smarter, more resilient CMG. "Courtney and Susan are both exceptional leaders and trusted partners who bring passion, clarity, and a deep sense of responsibility to everything they do," said Paul Akinmade, Chief Strategy Officer at CMG Financial. "They care deeply about their work, their teams, and the future of this company. What stands out is how they bring people together to drive meaningful change, from the first moments of origination all the way through to servicing." CMG congratulates both honorees and thanks HousingWire for recognizing the leadership, excellence, and trailblazing impact of women across housing finance. To read their full Women of Influence profiles, click here. About CMG CMG Mortgage, Inc. NMLS ID# 1820 ( ) is a well-capitalized mortgage lender founded in 1993. Founder and CEO, Christopher M. George, was Chairman of the Mortgage Bankers Association in 2019. CMG makes its products and services available to the market through three distinct origination channels including retail lending, wholesale lending, and correspondent lending. CMG currently operates in all states, including the District of Columbia, and holds approvals with FNMA, FHLMC, and GNMA. CMG is widely known throughout the mortgage banking and housing markets for responsible lending practices, industry and consumer advocacy, product innovation, and operational efficiency. About HousingWire HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets, boasting a readership that spans lending, servicing, investments, and real estate market participants, as well as financial market professionals. With over 10 million annual unique visitors, HousingWire is the community for mortgage and housing professionals to engage and connect. Industry decision-makers rely on us to Move Markets Forward. Media Contact Annaugh MadsenPhone: (667) 260-6360Email: amadsen@ SOURCE: CMG Financial press release
Associated Press
02-07-2025
- Business
- Associated Press
CMG Financial's Courtney Thompson and Susan Walker Named 2025 HousingWire Women of Influence
SAN RAMON, CA / ACCESS Newswire / July 2, 2025 / CMG Financial, one of the nation's top mortgage lenders, is proud to announce that two of its Executive Vice Presidents, Courtney Thompson and Susan Walker, have been named to HousingWire's 2025 Women of Influence list. This prestigious award honors women in housing who are making notable contributions to both their organizations and the industry at large. With their innovative thinking, leadership, and vision for the future, Courtney and Susan exemplify what it means to lead with impact. 'This year's honorees include mentors, innovators, and community leaders,' wrote Lesley Collins, HousingWire Editor's Choice Awards Program Manager. 'Many are paving the way for future generations through mentorship, volunteer initiatives, and by serving on boards that influence key industry practices. Collectively, their efforts are shaping not only their companies but also the communities they serve and the future of housing itself.' Courtney Thompson, EVP of Servicing at CMG, has spent the past year tackling one of the biggest challenges in mortgage servicing: building a modern, borrower-first platform from the ground up. Tasked with developing a fully in-house servicing solution, she's led a bold effort to move beyond outdated legacy systems and create something built for today's consumer. Under her leadership, the platform has taken shape as a fully connected ecosystem-one that keeps loan officers involved post-close, gives borrowers access to personalized tools and insights, and reshapes how homeowners interact with their loans. It's not just a tech project-it's a reinvention of the servicing experience, and it's already drawing attention across the industry. Susan Walker, EVP of Corporate Efficiency at CMG, has spent the past year acting as the voice of the loan officer, translating feedback from top performers into meaningful enhancements to CMG's core platforms, CLEAR and Byte. By embedding herself directly with Product and Technology teams, she helped identify workflow inefficiencies and delivered rapid-fire improvements that drove adoption, boosted morale, and aided in bolstering these systems into competitive strengths. Her impact earned her a seat on the Executive Management Team, where she now oversees Post Closing, Vendor Management, and Product. In this new role, she continues to lead with the same hands-on, cross-functional approach, streamlining operations, reducing costs, and identifying upstream efficiency and alignment opportunities. Her results speak volumes: a West Division that topped $3B in volume, over 100 strategic hires, and a culture that now embraces technology more than ever before. Susan's work isn't just about optimizing systems, it's about building a smarter, more resilient CMG. 'Courtney and Susan are both exceptional leaders and trusted partners who bring passion, clarity, and a deep sense of responsibility to everything they do,' said Paul Akinmade, Chief Strategy Officer at CMG Financial. 'They care deeply about their work, their teams, and the future of this company. What stands out is how they bring people together to drive meaningful change, from the first moments of origination all the way through to servicing.' CMG congratulates both honorees and thanks HousingWire for recognizing the leadership, excellence, and trailblazing impact of women across housing finance. To read their full Women of Influence profiles, click here. About CMG CMG Mortgage, Inc. NMLS ID# 1820 ( )( ) is a well-capitalized mortgage lender founded in 1993. Founder and CEO, Christopher M. George, was Chairman of the Mortgage Bankers Association in 2019. CMG makes its products and services available to the market through three distinct origination channels including retail lending, wholesale lending, and correspondent lending. CMG currently operates in all states, including the District of Columbia, and holds approvals with FNMA, FHLMC, and GNMA. CMG is widely known throughout the mortgage banking and housing markets for responsible lending practices, industry and consumer advocacy, product innovation, and operational efficiency. About HousingWire HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets, boasting a readership that spans lending, servicing, investments, and real estate market participants, as well as financial market professionals. With over 10 million annual unique visitors, HousingWire is the community for mortgage and housing professionals to engage and connect. Industry decision-makers rely on us to Move Markets Forward. Media Contact Annaugh Madsen Phone: (667) 260-6360 Email: [email protected] SOURCE: CMG Financial press release
Business Wire
02-07-2025
- Business
- Business Wire
Stewart Group Senior Vice President, Direct Operations and President of Stewart Title of California Wyomia Clifton Honored with HousingWire's 2025 Women of Influence Award
HOUSTON--(BUSINESS WIRE)--Stewart Information Services Corporation (NYSE:STC) announced today that Wyomia Clifton is a recipient of the 2025 Women of Influence Award presented by HousingWire. The annual award, now in its 16th year, honors 100 leaders across mortgage, real estate and fintech who are making a measurable impact on their organizations and the broader housing economy. Wyomia's leadership continues to shape the future of our industry in bold and meaningful ways Share Clifton currently oversees operations across nine states in her role as Group Senior Vice President, Direct Operations and President of Stewart Title of California. She plays a critical role in shaping company direction and advancing performance. Since re-joining Stewart in 2010, she has held several leadership roles, including Operations and Sales Manager for the Puget Sound Division, Northwest Regional Sales Manager, and Senior Division President. 'It is a distinct honor to be recognized as a HousingWire 2025 Woman of Influence,' said Clifton. 'This recognition reflects the disciplined leadership, customer obsession, and relentless execution that define my team's approach to driving innovation and sustainable growth across the industry. I am privileged to lead such an exceptional group of professionals, whose unwavering commitment continues to elevate our standards, expand our impact, and shape the future of real estate services.' The Women of Influence were selected by HousingWire's editorial team and a panel of industry professionals, based on their professional accomplishments, industry contributions, community involvement, and overall influence. The 2025 list reflects the depth and diversity of talent leading housing into the future. 'Wyomia's leadership continues to shape the future of our industry in bold and meaningful ways,' said Fred Eppinger, Chief Executive Officer. 'Since expanding her region to include California, she has continued to drive growth through her unwavering commitment to customer obsession, best-in-class service, strategic recruiting, and high-quality acquisitions. Wyomia's drive for excellence and ability to inspire others make her truly deserving of this recognition. I'm proud to see her honored as a HousingWire Woman of Influence.' For more on Clifton's professional achievements and her key role in leading Stewart's Direct Operations division, visit the 2025 Women of Influence Award page. About Stewart Stewart (NYSE-STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success. Learn more at
