May 19, 2024


Making a New Home

Homebuyers Flock to Florida Real Estate

2 min read

In July 2020, 2,216 Redfin consumers moved to Miami in July 2021, the range grew to 7,610. Some moved due to the fact they could perform from residence, some to escape lockdowns.

SEATTLE – In accordance to Redfin’s month-to-month migration report, July observed the web inflow of Redfin customers shifting to Miami increase to 7,610 from 2,216 last calendar year. Even with the possible improve in flood hazards and coastal storms, Florida continues to be a top location for potential buyers.

“Home consumers are moving listed here from all more than the map – Atlanta, Cincinnati, New York, Columbia, Mexico City, Pittsburgh and Philly, to identify a couple of,” states Milagros Alvarez, a Miami true estate agent at Redfin. “The beach locations, heat temperature and lower taxes are the significant attracts. Florida has also been substantially fewer shut down than other states for the duration of the pandemic, which some household hunters see as a constructive.”

Tampa and Cape Coral are also incredibly hot places for migration, with internet inflows mounting to 4,315 from 2,778 in July 2020, and to 3,109 from 1,790, respectively, according to Redfin’s assessment.

“The homebuyers I chat to almost never point out climate alter,” claims Alvarez. “Most of them aren’t involved. A ton of persons look to have this concept that it won’t influence them in their life time, so it does not need to have to be a consideration when obtaining a home.”

Nonetheless, Daryl Fairweather, Redfin’s chief economist, prompt that potential buyers should really at least retain climate change in brain, expressing, “Miami homebuyers must assume about how they can make their households more resilient to weather alter and how their funds would be impacted if their households dropped value.”

Resource: HousingWire (08/30/21) Volkova, Maria

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