Florida Is Now the 4th Fastest Growing State in the Nation
By the end of 2016, Florida’s population is expected to reach 20.7 million, which is double Florida’s population in 1980. Florida is the third largest state in terms of population, trailing only behind California and Texas. In fact, the number of residents in The Villages increased over 26% in 2016. With the influx of new comers, buying a home will only become more expensive and more challenging.
When Population Goes Up, Prices Do Too
The 2016 Florida REALTORS® President, Matey H. Veissi, told the Orlando Business Journal that this year Florida added new jobs, attracted new residents and encouraged economic growth, all while strengthening the housing market. From the 2nd quarter of 2015 to the 2nd quarter of 2016, closed sales of single-family went up 1.4 percent.
During that same time frame, there have been over 76 thousand closed sales in the state of Florida!
Also, the median sales price for single-family homes during the 2nd quarter of 2016 was up 10% from the previous year. In fact, from the 1st quarter of 2016, prices rose by $17,000. And prices will only continue their upward climb, so it’s wise to buy before they do.
Why Buy In Florida?
We’ve established that prices are on the rise, making NOW the best time to buy in order to avoid a price increase. But why else should you buy in Florida? If not for job relocation, then for the plethora of good things Florida has a lot to offer, including sunshine, beaches, family-friendly attractions and more.
Still not convinced? Check out this AV Homes article dedicated to all the good things Florida. AV homes does its best to provide homes for those new to Florida, those looking to move, those looking for a retirement community and those looking for their dream home. The Sunshine State has so much to offer, and we’re happy to help you get settled.