Zillow, U-Haul and United Van Lines ranked Florida as a top destination state. A Chief Economist at the National Association of Realtors® (NAR) credits this to affordability, lower taxes, and jobs.
Sun Belt states are more affordable and generally have a lower tax burden and more job creation.
Lawrence Yun, Chief Economist for the National Association of Realtors®
Zillow reports that the Sun Belt will dominate it’s list of hottest housing markets again this year. Tampa and Jacksonville are high on the list.
Lawrence Yun is also predicting a more moderate home price growth this year, estimating 5.7%, rather than Zillow’s prediction of 14%. With stronger price appreciation in markets such as Palm Bay, Melbourne, Titusville, and Pensacola.
U-Haul reported in their Annual Growth Index that Texas just edged out Florida for the largest gain of one-way trucks in 2021. United Van Lines reported in their 45th Annual National Movers Study that Florida is near the top of it’s list for inbound migration in 2021.
When people move, they tell friends and family, some of whom follow… When companies move, they bring employees and families with them and motivate other companies to do the same.
Peter C. Earle, Economist for the American Institute for Economic Research