Are hurricanes stopping people from moving to Florida? You would think that after seeing the devastating damage in Southwest Florida from Hurricane Ian that more people would be hesitant to migrate south. Well, think again. Redfin recently released migration trends from October 2022 that shows homebuyers are looking to move to the Sun Belt. Of the top 10 migration cities, 5 are here in Florida. We’re not shocked to see that Tampa, Orlando, and Miami all made the list of top 10 metros. We are a little surprised to see that Cape Coral and North Port made the list despite rebuilding.
Even though the average 30-year-fixed mortgage rate was 6.9% (3.83 percentage points higher than 2021), people are still looking to buy homes. And while rates have come down slightly in November, they’re still significantly higher than they were last year. Despite the fact that Florida was hit with by one of the most destructive storms in U.S. history, people are still flocking to the Sunshine State. Why? Well mainly because it’s relatively affordable to relocators compared to other metros. Homebuyers looked to leave big cities like San Francisco, Los Angeles, New York, Washington, D.C. and Boston.
Here are the top 10 metros homebuyers are moving to:
- Sacramento, CA
- Las Vegas, NV
- Miami, FL
- San Diego, CA
- Tampa, FL
- Phoenix, AZ
- Cape Coral, FL
- North Port-Sarasota, FL
- Dallas, TX
- Orlando, FL
So are hurricanes stopping people from moving to Florida?
The simple and realistic answer is no. And why would it? For majority of the year we live in paradise. Even some of the people who were affected by Hurricane Ian still plan to stay in Florida, just maybe a little more north. Plus, many people from northern states are happy to trade in their snow boots for sandals.