Here at Live South Florida Realty, Inc. we admit that we are bit biased when it comes to ranking the greatest state in the country to live in. In particular, we feel that South Florida offers a unique opportunity to live where many people vacation while also enjoying a mult-cultural experience in paradise. Of course, you don’t simply need to take our word for it. We have previously reported on various studies performed indicating that The Sunshine State was a popular destination among movers. Recently, LendingTree conducted an analysis of states with the most outbound and inbound residents.
Moving trends
The recent LendingTree analysis evaluated mortgage loan data from March 1, 2020, to Sept. 21, 2021, to learn pandemic moving patterns. Of Americans who moved during the pandemic, 85% opted to move within their state. Many of these moves involved relocating to single-family homes in suburban areas. As for the highest percentage of residents looking to stay in their state, the top 3 states were:
- #1. Texas
- #2. Oklahoma
- #3. Florida
Alternatively, New York had the highest percentage of residents looking to move out of the state.
Florida as the preferred destination
As for out-of-state movers throughout the country, Florida was the most preferred destination. In fact, more than a third (36%) of state-to-state movers preferred relocating to The Sunshine State. Historically speaking, most of the out-of-state moves into Florida have come from northeast and midwest states. However, we are also beginning to see more Americans even opting to move across the country from western states such as California.
Summary
Although home prices have risen across the country, Florida still offers some affordable housing options particularly as compared to more expensive markets in other states. In addition, the tropical weather, lack of a state income tax, & thriving economy are also attracting many Americans and even corporations to the state. From a real estate investment perspective, the demand for housing throughout Florida is expected to remain strong. With this continued influx of Americans moving to Florida, it may be a great time to consider adding investment properties to your portfolio?
At Live South Florida Realty, Inc. we have assisted many clients with their real estate needs. 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!
