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Sales of single-family homes were down 12% in September compared with the same time in the previous year. But interest rates, rising home prices and skyrocketing insurance costs likely played bigger roles than the recent hurricanes. “Florida recovers much faster than you think,” said Brad O’Connor, chief economist for Florida Realtors. Because of stricter building codes implemented in the years after Hurricane Andrew devastated South Florida in 1992, newer homes withstand hurricanes better than older ones, O’Connor said. The number of households dropped from about 340,000 to about 326,000, according to the U.S. Census Bureau.

Persons: ”, Brad O’Connor, Hurricane Andrew, O’Connor, ‘, Hurricane Ian Organizations: Florida Realtors, . Census, Van Lines, Associated Press Locations: Florida, South Florida, Lee County, Fort Myers, United States

☆ 'Housing affordability is reshaping migration trends,' economist says. Here's where people are moving
▼ + stars: | 2024-01-23 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: 1 min

Homes in those consumers' new metros cost $7,500 less, on average, compared to the places they left. "Housing affordability has always mattered...and you're seeing it across the country," said Orphe Divounguy, a senior economist at Zillow. "Housing affordability is reshaping migration trends." More from Personal Finance:Gen Z, millennials are 'house hacking'Why can’t today’s young adults leave the nest? Blame high housing costsHow to vet HOAs when house hunting

Persons: Orphe Divounguy, Gen, HOAs Organizations: Van Lines, Finance

☆ The 15 worst places to buy a home if you want it to grow in value
▼ + stars: | 2023-04-07 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

However, the 15 bottom-ranked cities averaged only 66% price growth over that quarter century. Montgomery, Alabama, is the worst city for growth, with prices rising just 59.6% since 1998. Cities in Illinois take up the next five spots in the ranking, with average price growth of only 61.8%. Values in Florida also have grown steadily over the years, with Miami and Naples both posting price growth just over 290% since 1998. 1 place to buy a home if you want it to increase in value — and it's not in California or New York

☆ Here are some things to think about before deciding to retire in another state
▼ + stars: | 2022-12-09 | by ( Deborah Nason | ) www.cnbc.com time to read: +4 min

This may include health care, health insurance, rent, home prices, home insurance (especially in a place like Florida), property taxes, transportation costs, etc. Income taxes: It can really impact long-term retirement projections when you move from a state without income taxes to one with state levies on earnings. It can really impact long-term retirement projections when you move from a state without income taxes to one with state levies on earnings. Estate taxes: Many states have much lower estate-tax exemptions than the federal government, which could result in a state estate tax applying to heirs. "Both private health insurance for younger retirees and Medicare Advantage plans have specific service areas," he said.

☆ Everyone talks about all the people moving to Florida. But high prices, hot weather, and shattered expectations are pushing residents out, too.
▼ + stars: | 2022-07-13 | by ( Jordan Pandy | Madison Hoff | ) www.businessinsider.com time to read: +7 min

Florida was the top 2021 destination for movers, with 221,000 more US residents moving in than out. The leavers say the high cost of living, including skyrocketing insurance prices, is a big factor. Take car insurance: Lovelace, a private investigator who uses her car regularly for work, paid $430 a month. The state's chief financial officer, Jimmy Patronis, said in May 2021 that 900 people a day were moving to Florida. A study by Joblist that compared wages to cost of living ranked Florida last out of all 50 states in affordability.

Moving is generally pretty expensive, but there are a few ways to make the process cheaper. From doing more yourself to finding cheaper alternatives to packing supplies, there are several ways to save on your next move. "Moving demand peaks in the summer and is lowest in the winter." Bob Mulligan, a certified moving consultant with Able Moving and Storage in Washington DC, says that simply packing yourself is a big savings. "Or, use a containerized moving service like PODS to do the transportation, and use a platform like HireAHelper to book the loading and unloading independently."

Persons: —, Duck Brand, Max Anderson, Anderson, Bob Mulligan, Able, Mulligan Organizations: Service, Storage Association, United Van Lines Locations: Washington

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