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A recent article published by the real estate portal Redfin.com shows that more than 30% of the American population wanted to move, including to other US states, between the months of October and December 2021. This significant percentage of people considering moving to a region different from the country was intensified with the pandemic and with the consolidation of teleworking. Florida remains among the most sought after states.
Although the graph shows a small drop from the record 31.5% in the first quarter of 2021, the percentage still remains considerably above those seen in the pre-pandemic period.
Lack of qualified professionals at the destination motivates change
In addition to the practicality that the new dynamics in the corporate world brought with the intensification of remote work, there is a lack of qualified professionals in the market. This gives more security and motivation to those professionals who want to move. It is practically guaranteed that they will find a job in the new destination if they cannot maintain their occupation at the previous company.
Miami is the most popular destination
According to the Redfin.com report, Miami was the most popular migration destination among major US metro areas for the fourth consecutive month. Then come Phoenix, Las Vegas, Sacramento and the Tampa area.
Affordable coastal cities with a pleasant climate often top the list of favorite places for those who want to relocate, but seeing Miami at the top of the list was new. Although Miami and Tampa have always been among the TOP 10 most searched, since the Redfin portal began tracking the migratory flow in 2017, they have never come out at the top. Cities like Phoenix and Austin usually held the top spot.
Central Florida region also attracts new residents
Central Florida, especially cities around Orlando, has also been attracting new buyers. In addition to being less densely populated regions (lower risk of contagion in times of pandemic), property prices are more attractive.
Florida became a particularly popular destination in 2021, as remote workers and retirees flock to the state in search of beaches, warm weather, low taxes and more affordable housing than big cities on the east or west coast. Miami’s net inflow (people coming in minus people moving out of state) nearly tripled from the same period last year. Net entry to Tampa has nearly doubled, with New York topping the list of Redfin.com portal users moving to both areas.
The relocators tend to be young remote workers who are moving to Miami in search of more attractive property prices and a better quality of life. This new influx of young people is also a novelty, as Florida has always originally attracted retirees.
San Francisco, Los Angeles, New York, Washington, D.C. and Seattle top the list of cities where portal users decided to leave in the period between October and November.
Large and expensive coastal cities often top the list of places Redfin.com users look to hang out, a trend that has accelerated with the pandemic and remote work options. Many large city residents with white-collar jobs can work remotely in cheaper locations with plenty of leisure opportunities.
About AMG International Realty
AMG International Realty is a full-service luxury brokerage firm in Florida. If you are interested in investing in Miami Real Estate or Orlando Real Estate, get in touch today: +1 (305) 318 6968 (Heloisa Arazi)