Life as we know it has been changed, perhaps forever, due to Covid. Jobs have changed from entirely being at the office to hybrid or remote in many circumstances. As people adjust to this new “normal: some states have seen huge influxes of people moving into them. Florida was one.
According to the US Census data, Florida’s population grew by 2.7 million, or 14.6%, from 2010 to 2020. This is twice the rate of overall US population growth for the same time period. This migration adds to the already Covid constricted environment for the entire state. Infrastructure, at all levels, requires updating to meet the needs of this new invasion of people.
Schools have had to adapt. Businesses have had to acclimate or close. Major sports have been impacted around the globe including the Olympics.
Our medical professionals have been the most taxed and strained. Many see little abatement in that progression since we never seem to get much of a break between the various strains of Covid. The number of medical professionals eager to work in these environments is diminishing despite rising wages.
People are rethinking how they work and where they work. Movement into Florida is at an all time high. Who can resist our mostly sunny climate and wonderous beaches? Just how many people are moving here?
According to some statistics there are as many as 900 families a day moving into Florida. That’s an average of nearly 30,000 per month. Where will they live and what will they do?
In 2020 the homes sales soared. In 2020 there was a 22-24% increase in closed sales across the board versus the same timeframe in 2019. There were just over 310,000 homes sold and closed in 2020 at a median price of $345,000.
In 2021 we saw another 24% increase in prices for single family homes and a 27% increase for townhomes and condos. Sales for 2021 topped 744,000 at a median sales price of $416,000! Properties were, on average, on the market a scant nine days. While the realtors may be celebrating this scenario. I think it is downright crazy! We simply cannot keep pace with this movement. We need a pause or a reset.
I got a great new job in St. Augustine, Florida. I live in Naples, Florida now. I looked for rentals and sales when I was offered this job. I was placed on a wait list for possible rentals with no possible date to get in. I was outbid on homes and condos when attempting to purchase. I finally found one that I can afford and placed it under contract as soon as I could. I had high hopes that all would move along smoothly. The paperwork is done with the lender and I had been prequalified beforehand. The inspection is complete and the home warranty bought. The move has been scheduled and rescheduled three times now. My bosses are on hold and being patient currently, but everyone has a border. The hold up is the appraiser. He has done the appraisal, but it is now in what they call the review process. Nobody seems to know how long this may take. Nobody seems to care. They (the appraisal company and the appraiser) tell us (me, my lender, and my realtor) that they are swamped with business and have no time to get their jobs done. This is sooooo wrong to me!
My entire future hangs in the balance of the appraisal company. I feel like a hostage! I want to work. I need to work. I have a wonderful job waiting for me. I just need a place to live.
I was a licensed Florida realtor for twenty years and have never seen anything like this. I wish this had been the case while I was licensed. I loved it and made some very good money, but when the market fell in 2006-2009 I took another job out of state and let my license go. Big mistake.
When will this madness stop? That is anyone’s guess, but most do not see an end in sight as Covid lingers and continues to impact our lives and more families exit the north to live in the balmy south.