If you thought the hurricane would slow down the migration to Southwest Florida, think again. Redfin just released new migration trends that include the month of October and Cape Coral and North Port are both high on the list. But why? The entire month of October was nothing but headlines about how much damage this area took. Could it be that the threat of a hurricane is still better than the idea of living in one of those cities? Of the top 10 migration cities, 5 are here in Florida, “That’s despite the fact that the state was hit by Hurricane Ian, one of the deadliest, most destructive storms in U.S. history, in September,” Redfin reported. “Coastal Florida is especially popular, even after getting pummeled by Hurricane Ian.”
The price of a strip of sand in Fort Myers beach shows this:
https://www.facebook.com/westcoasthoghunting/posts/pfbid02SQ5whiAwoW4MaFmhx4dkcZfosYxKnpq47QEpRZT4wEdxMr43jvavX9FQWiP9nPnXl
That’s more than a million dollars to buy some sand where a house used to be. My friend Chris is still kicking himself.
Redfin shows 24.1% of its users want to leave their current metro area.
The report states “an unprecedented portion are relocating to new metros. Many are seeking relative affordability as near-7% mortgage rates and persistently high home prices make expensive parts of the country even more expensive.” And Florida is high up on the list of where they want to move. Including North Port and Cape Coral.
There’s another interesting part of the study. It shows not just where people are moving to, but also where they’re moving from. Specifically, the largest block of people currently moving to Southwest Florida are coming from Chicago. I get it. I’ve been to Chicago. Amazing food, amazing night life, a great sports town, but…. High crime rate, rats the size of dogs, and the cold. Even in the June, the way the wind rips through downtown, I was freezing.
There was a similar study conducted before the hurricane, “A Record Number Of California And New York Residents Moved To Florida Last Month.” If it seems familiar, it was the study that Governor DeSantis kept referring to during the election.
So where does North Port and Cape Coral stack up?
The Redfin migration analysis is based on about two million Redfin.com users. The data set is from August 2022 to October 2022. Here’s Redfin’s Top 10 Metros Homebuyers Are Moving Into, by Net Inflow. Net inflow = Number of Redfin.com home searchers looking to move into a metro area, minus the number of searchers looking to leave
