Monday, March 9, 2015
Almost everyone over the age of 20 has said the phrase “that’s it, I’m moving to Florida” at some point during their life. Usually it is said out of frustration with the weather, or another popular reason being high taxes elsewhere. In the 90’s and early 2000’s, Florida was an incredibly popular destination to move to. The younger crowds flocked to Miami or Tampa, the wealthy to Miami and Fort Lauderdale, and then the retirees to Naples or Fort Myers. Since 2007 though we have been lagging behind…. Until recently.
Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida, says Florida's economy is now solidly passing the Nation’s. Not only are we recovering fully, but we are about to start leading the pack again. Tourism is back to full throttle. Booking hotel rooms or going out to dinner is becoming a serious issue again with all of the traffic. People are spending money again and are confident the economy has stabilized.
The real estate market is one step away from being at the level it was before the market crashed. New home sales have been extremely high in 2015. "Florida ranked No. 2 in new home permits to Texas.” Why are all of these new homes being built in Texas and Florida? The answer is jobs; people gravitate to places they can afford to live and put food on the table. Florida and Texas have been adding jobs since 2013, more and more by the month. Florida's annual job growth rate has exceeded the nation's pace since 2012. Florida also just surpassed New York as the third most populous state in the US!
Tampa Bay is thriving now too. We have the 2nd ranked airport in the world, all major sports teams in the city, close proximity to Disney World, top ranked beaches everywhere you go, Busch Gardens and other theme parks and last but not least- gorgeous weather year round. The SI Real Estate team here in Tampa is seeing a lot of activity on the MLS and inventory is dwindling. Tampa Bay is the 3rd most active market in the state and has a lot to offer, just like Miami and Orlando. Anyone who is thinking of relocating, should consider Tampa. Ask us why we choose Tampa to live, work, and play. SI Real Estate will assist if you have any questions!