Florida defying national housing 'recession' with post-pandemic boom
Naples, a city of about 20,000 people, is part of the much larger Collier region, which boasts some 375,000 residents as of the 2020 census."Naples," which is now the name used to reference much of the county west of Interstate 75 even beyond city limits, has become an in-demand locale for out-of-staters attracted to the wealth, coastal lifestyle, and hot labor market.
But South Florida is defying those trends. Naples has seen 13.1% growth over the past year, and Miami has had prices rise 7.6%. In Fort Myers, prices have climbed nearly 14% in the past year alone — astonishing growth that cuts against the national housing recession narrative. The property is set up to project a relaxed Florida lifestyle to entice wealthy buyers from the Northeast and elsewhere. The color scheme is light, and shades of blue and green evoke the nearby ocean and palm trees.
“Definitely saw a much stronger migration of Northeastern people and Californians than we have ever seen,” Gaston said, noting that many more were from the Midwest before the pandemic. “And I think a lot of that, on the client side, was driven by the politics of everything with COVID." “We got to spring of 2021, things were not getting better; our COVID policies up there were quite different than what was going on here,” she told the“Everything seemed to fall in place,” Salese said about the ability to remote work plus the educational opportunities a pandemic-era relocation afforded. “For us, it was definitely the best decision; we have not looked back.”
by about 6%, according to the U.S. Census Bureau, building upon longer-term growth trends in the area. The Naples area has cemented itself as a bastion of wealth as housing prices keep soaring yet without deterring buyers, many of whom forego mortgages and pay in cash . But there have been some key changes in those moving to the area; instead of elderly retirees from the Midwest, demographics are evolving.
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