For many years now, people have been flocking to Florida – either in search for a holiday home, the perfect place to start a new business, or to start a new life. Back in 2014, Florida’s population grew by 108,000 people.
Stefan Rayer, a population expert from the University of Florida, said at the time that young people in particular were moving to Florida for both education and job prospects. “Florida is very attractive” he said. “It has big metropolitan areas. It has good job opportunities. That’s why people are moving to Florida.”
In fact, the trend started sooner than this. Between the year 2000 and 2010, the population of Florida grew by 17%, according to the United States Census Bureau. Even now, in 2017, Florida is receiving a huge influx of visitors and new residents looking to buy a home.
U.S. Census Data has shown that under-35s are turning to Florida and Texas to find work, buy a home and start a family. With a combination of amazing real estate, a growing economy, and businesses coming from all over the country, Florida is becoming an attractive destination not just in terms of its great sights, but financially and economically.
Port St. Lucie is one of the most attractive destinations right now. The city experienced rapid growth throughout the 200s, and as of 2015 Census Data, the region had over 179,000 residents. That’s more than Fort Lauderdale.
In Port St. Lucie, almost 60% of young people already own their own home, which costs on average $170,000 – according to SmartAssets, and a report by The Daily Mail.
Real Estate Professionals are Reacting
At the Lay of the Land Conference, held in Polk County, real estate professionals came from all over Florida to learn about the state’s economy and the changing nature of the real estate market. Roughly 300 property owners and appraisers attending the conference, where they discovered more about the booming local economy (particularly in the Tampa Bay region), predictions for the future, and how to make the most of the changing real estate market.
At the conference, speakers laid out how Florida is now an ideal place for real estate developers, owing to the population growing at 2.3 times the rate nationally. Population growth in Florida is even beating California.
According to economist Mark Dotzour, Florida is expected to experience ‘euphoria’ within the business community. With the promise of fewer regulations from the federal government, and a high demand for property in the region, Florida has all the ingredients it needs to continue its rapid expansion.
Dotzour also notes that there is “no threat of recession in the near future”, and that business people and consumers alike are ‘pretty content’ right now.
Why Should You Care?
If you’re selling property in Florida, then the growing population, interest from investors and booming economy means you’re in a fine position to sell your home. Using Beycome.com, you can ensure that you have total control over the sale of your property. You’ll keep your profit and avoid hefty agent fees, and you’ll be able to sell your house the way that you want.
With a large proportion of young people in the region owning their own homes, you’ll be in a good position to sell your property to eager first time buyers – or for pricier properties, investors may be keen to discuss purchasing your property owing to the surprising lack of supply.
With no signs of an economic crash coming any time soon, a growing population and content consumers, Florida looks set to enjoy many years of real estate growth.