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New home sizes are decreasing

New home sizes decreased for the fourth year in a row in 2018. From 2015 to 2018, the median size of new housing decreased from 2,466 sq ft to 2,354 sq ft, according to the Census Bureau. This follows the shift from post-recession where high value homes comprised a...

Labor costs driving construction cost increases

The cost of construction has been rising more in the last few years for both materials and labor. However, of the two, the cost of labor has been rising faster than the cost of building materials in some areas of the country and there is a greater range of labor costs...

High quality data is the key

Accurate data about properties’ locations, construction type, fire-resistance and replacement cost, along with other detailed data, is necessary to provide a complete picture of risk for insurers and reinsurers. The ability to quickly access and transmit this data...