Why is Florida’s housing market booming? The state has experienced a great increase in its population between 2012 and 2022, which has caused several major metros (including Miami and Tampa) to increase in value. Coupled with changes in how many live and work, Florida has become an attractive place to move to for many. Let’s learn more about moving to Florida below.
Remote work, the rise in small businesses, and the availability of work are some of the contributing factors to the change. In terms of housing, Florida has experienced a large number of new building applications in 2023. House values are also more affordable in the Sunshine State compared to other popular markets. Also, with no state income tax, no extreme changes in weather throughout the year, and a cost of living that is not as high as places like New York and California, Florida is a great place to consider for a good number of people.
Nonetheless, it’s important to know as much about your real estate options so you make an informed decision about your move. Talking with Floridians can provide you with beneficial advice and insights into what it’s like living in the state. There are multiple mortgage loan options (such as conventional and DPA loans), so understanding what’s available to you can help you find the right fit for your needs. Staying educated throughout your home-buying experience can help you make a final decision that is right for you and your family.