Florida has been attracting people for a long time. According to politifact.com, 875 people on average moved to Florida every day in the 1980s, while that number dropped to 772 people per day on average in the 2000s. According to 2016 Census data, eight states out of 50 grew by more than 1.6 percent. Not surprisingly, Florida was the fourth fastest growing state with a current population of 20.61 million and a 10-year growth rate of 13.46 percent.
What does that population growth due to home prices? With strong demand and low inventory, home prices go up. Again, no surprise, but the Tampa-St. Petersburg area saw home prices increase 10.5% in 2017, according to floridarealtors.org. It is one of seven major metro areas with populations of at least 1 million in the U.S. that posted double-digit increases in the past year.
Americana Cove typically has a seller’s market for homes due to the low inventory that is available for sale which keeps home prices higher. The community’s waterfront property, although still affordable, is increasing, too.
What is the number one reason people in their 50s and 60s move to Florida? The warmer weather is the number one reason, according to University of Florida’s Bureau of Economic and Business Research.