Population Increase Spurs Economic and Real Estate Growth in Florida
2014 is likely to be a standout year for the State of Florida as it is expected to overtake New York as the third most populous state in the U.S. With California and Texas ranked as the top two populous states, it is safe to say that these statistics show that individuals prefer warmer weather. In fact, according to The New York Times, roughly 50,000 New Yorkers move to Florida each year. In comparison, just 25,000 Floridians move north to New York. With the continued population growth, it is expected that the Florida real estate market and economy will see a major boost in 2014.
In addition to the population growth, the unemployment rate in Florida continues to decline leaving buyers with more confidence and ability to buy a home. As of November, the unemployment rate in Florida fell to 6.4 percent, bettering the national unemployment rate of 7.0 percent. The decline in the unemployment rate is a result of companies creating or expanding job opportunities in Florida. From Polk County to Marion County, development is surging throughout the state.
The Florida housing market saw great improvements throughout 2013, and population and economic growth should lead to an increase in home sales and home starts in 2014. With so many people relocating to the Sunshine State and looking to purchase homes, and with resale inventory still low, homebuilders such as Highland Homes plan to respond with new communities offering brand new construction homes to fulfill homebuyers needs and wants.
Highland Homes builds new homes throughout Central Florida, Orlando, Tampa Bay, Manatee County and coming soon to Ocala. In addition to affordable home prices from the low-$100,000s, qualified buyers can purchase their dream home for just $99 down. Highland Homes builds more than 30 floor plans, priced for your budget and designed for your life.
For more information about our stylish home designs, beautiful communities and prime locations, visit the Highland Homes website today!