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Title

The recent housing market uncertainty, caused by a perfect storm of high interest rates, low inventory, and high home prices, has extended across all facets, including the title insurance industry. While large title companies typically remain profitable, the recent slew of job cuts and layoffs indicate that it may be difficult for some title companies to escape the pitfalls of a tenuous housing market.

The recent housing market shift isn’t the only issue plaguing the title insurance industry. There are other longer term issues to note, including the talent gap in this industry. According to recent statistics, about 21% of the industry’s workforce will be retiring within the next 10 years, and some potential disruptors in the space could also initiate significant shifts within the industry. 

One recent bright spot, however, has been in digital closings. The future of digital closings is bright, and the COVID-19 pandemic had a big impact on the acceleration of this trend in recent years.

To stay on track with the latest title news coverage, register for HousingWire’s weekly ClosingTime newsletter here.

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