Each year towards the end of fall, The Sunshine State sees an influx of seasonal residents call Florida their home for the winter months. Affectionately referred to as snowbirds, this population predominately consists of retirees that come to enjoy the mild Florida winters. Needless to say, many local businesses depend on this increased traffic to help make up for typically slower months in August and September. However, this year may see a disruption in the arrival of our friends from the north.
The delta variant is a cause for concern
It has been well documented that Florida has experienced a surge in COVID-19 delta variant cases over the past few months. With this said, the number of new cases has recently begun to drop as other states see their case loads increase. Given the amount of tourism seen in The Sunshine State this past summer, it is not entirely surprising to see the number of cases increase. Nonetheless, the COVID-19 delta variant has been a cause for concern for many snowbirds both within the U.S. and from Canada.
As an indicator, many hotels are seeing an increase in cancellations and overall weaker year-over-year growth. Of course, given the current pandemic factors a lot of travelers are deciding at the last minute to come to Florida. This uncertainty is concerning for many local small businesses in South Florida.
Overall, it is expected that 90% of snowbirds that own property in South Florida will be returning this year. Furthermore, the demand for seasonal rental units also continues to be high. In fact, we typically recommend looking for a seasonal rental unit in the year prior to your arrival. This is particularly the case for oceanfront condos, which are extremely popular with snowbirds.
It is also important to keep in mind that the current work from home environment is also adding to the demand for seasonal rental units. Although in the years prior these units were rented by retirees, we are now seeing working aged Americans deciding to work remotely from a beach condo in South Florida for the winter. As a result, this is significantly adding to the demand.
At Live South Florida Realty, Inc. we have assisted many clients build their real estate investment portfolios. Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. Live South Florida Realty, Inc., has been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!