The U.S. housing market has cooled significantly during the second half of 2022 as high mortgage rates, inflation and a stumbling economy deter would-be homebuyers and sellers.
But of the people who are still buying homes nearly 25% of U.S. Homebuyers are looking to move out of their current metro areas, with many people turning their attention to cities in Florida as their next place to call home. According. Half of the top 10 migration destinations on the list are Florida cities, including Miami, Tampa, Cape Coral, and Northport-Sarasota.
Estimates released by the state Demographic Estimating Conference showed that Florida’s population growth appears to have peaked last year with a 1.6% growth rate. Florida’s population in 2022 will stand at more than 22 million residents, trailing only California and Texas in size.
Source: Fox Business
The 30-Year Fixed-Rate Moves Higher
The housing market remains in the doldrums with declining sales, inventory and prices. The declines in sales and deceleration in home prices began swiftly earlier in 2022 but have moderated more recently. While the intensity of weakness is moderating, the market continues to decline and forward leading indicators suggest housing will remain weak throughout the winter.
