1 in 7 homes do not have home insurance

🌤️ Today, we look at Trump’s new tariffs, agents losing faith in the NAR, and whether homeowner delinquencies are elevated.

Today's newsletter is 782 words — a 3.5-minute read.

1. 1 in 7 homes do not have home insurance

According to an analysis from LendingTree, 11.3 million out of the country’s 82.9 million owner-occupied homes are uninsured. This leaves about 1 in 7 homes without coverage in the event of a disaster.

Among the largest metros, McAllen, TX, has the highest uninsured rate, with a staggering 43.3% of homes lacking coverage. This is far ahead of the second least-insured metro, El Paso, TX, where 23% of homes are uninsured.

Share % of owner-occupied homes without insurance in each state

2. Agents grow more discontented with their profession and the NAR

Redfin has released its 2025 Industry Survey, revealing significant insights into the real estate industry's current state. The Ipsos-conducted survey of 500 agents shows concerning trends in agent satisfaction, with only 21.2% recommending the profession and 49.8% unlikely to do so.

Some key findings from agents on industry challenges:

• 64.2% cite affordability crisis as the biggest concern

• 42.8% worry about inventory shortage

• 42% are concerned about declining commissions

• 40% report that climate change affects homebuyer decisions

Following industry changes, 51% of agents now view NAR unfavorably, up from 19% in 2023, according to the survey.

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3. Catch up quick

💻 HUD launches new website, cuts 90% of its website content. (HUD)

🏡 Could the Land Value Tax solve the housing shortage? (Realtor.com)

💖 Keller Williams donates $1.5 Million to KW Cares. (KW)

🎉 NTREIS appoints Chris Carrillo as CEO. (BusinessWire)

🚔 Luxury real estate YouTuber Erik Conover charged with attempted murder. (Realtor.com)

🎁 Fun read: HGTV's $1.1M smart home giveaway comes to San Antonio. (HGTV)

4. Baby boomers make up the largest share of homebuyers

Baby boomers have overtaken millennials as the largest share of homebuyers, making up 42% of all purchases in the past year, according to a report from the NAR.

Millennials, who previously led home-buying trends, now account for 29%, down from 38% the previous year. Generation X buyers remained steady at 24% of the market.

First-time homebuyers comprised 24% of all purchases, a drop from 32% the previous year. Younger millennials remained the most common first-time buyers, with 71% purchasing their first home.

5. 6 million homeowners behind on their mortgages? Nope

A big stir broke out on social media over the weekend, with some users claiming that single-family homeowner delinquencies are spiking. But as HousingWire pointed out, that’s simply not true.

The national single-family homeowner delinquency rate rose 5 basis points (bps) to 3.53% in February. While that’s up 19 bps from a year ago, it remains 32 bps below its level at the start of the pandemic.

The data circulating on social media referred to multifamily delinquencies, not single-family homes. In reality, total credit stress for loans marked 'severe derogatory' still hasn’t even returned to pre-COVID levels.

6. Trump announces reciprocal tariffs of at least 10% on most nations

President Trump unveiled the much-anticipated “Liberation Day” reciprocal tariffs, imposing a minimum 10% tariff on all countries and additional levies on approximately 60 nations.

During his address, Trump displayed a chart listing the countries subject to higher tariffs, with China, the European Union, and Vietnam facing rates of 34%, 20%, and 46%, respectively.

The Trump administration confirmed that Canada and Mexico would be exempt from the baseline 10% tariff and reciprocal levies for now, as both nations are already subject to existing 25% import duties.

The baseline tariffs will take effect after midnight on Saturday, while the higher rates will be implemented from next Wednesday.

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