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Florida | Beach Road Realty Inc Blog

Monday, January 29, 2024   /   by Richard Eimers

Experts Talk Florida's Post-Pandemic Normal

Florida is outperforming U.S. in job and income growth and population migration, two economic experts said.

TAMPA, Fla. – Even as the U.S. economy posted an unexpected strong performance last year, Regions Bank Chief Economist Richard Moody and Chief Investment Officer Alan McKnight expect 2024 economic growth to be slower.
Moody says that the labor and supply side expansion of the 2023 economy raises concerns about how much capacity remains for growth in 2024.
Florida's markets are expected to find a new normal in terms of growth after three years of explosive expansion, which means the outlook is still positive. Moody added that Florida's large metro areas continue to be “some of the hottest markets in the country,” but “once the dust settles, there's still outperformance there.”
Florida is among the states with favorable demographic profiles, including strong business migration, lower costs of living, lower labor costs, strong population inflow ...

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Tuesday, January 23, 2024   /   by Richard Eimers

New Mortgage Applications Jump More Than 10%

New mortgage applications increased 10.4% from one week earlier, according to the Mortgage Bankers Association.

WASHINGTON — Mortgage applications increased 10.4% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 12, 2024. Last week’s results included an adjustment to account for the New Year’s holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 10.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index increased 26% compared with the previous week. The

The Refinance Index increased 11% from the previous week and was 10% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 9% from one week earlier. The unadjusted Purchase Index increased 28% compared with the previous week and was 20% lower than the same week one year ago.

“Mortgage r4 ...

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Saturday, January 6, 2024   /   by Richard Eimers

Florida Consumer Sentiment Mixed In Dec.

By Amy Connolly
Although UF’s monthly consumer confidence survey ended the year on a high note, the survey marked its third lowest level since it began in 1985.

GAINESVILLE, Fla. – Consumer sentiment in Florida inched up for a third consecutive month in December to 69.5, gaining 1.2 points from a revised figure of 68.3 in November. Meanwhile, national consumer sentiment surged by 8.4 points, the University of Florida found in its monthly consumer confidence survey.
The annual average consumer confidence ended 2023 at 67.9 points for the year, marking the third-lowest level on record since the series began tracking consumer confidence in 1985, UF researchers said. The lowest on record was 64.3 in 2022 and the second lowest was 65.6 points in 2008, said Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research.
The survey looks at five components that make up the index. December’s survey showed an increase ...

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Saturday, January 6, 2024   /   by Richard Eimers

7 Florida Cities Dominated 2023 U.S. Growth

By Amy Connolly
Seven Florida locales dominated the 2023 U-Haul Growth Index, indicating the Sunshine State continues to be a sought-after destination.

Seven Florida locales dominated the 2023 U-Haul Growth Index, indicating the Sunshine State continues to be a sought-after destination.
PHOENIX – Seven regions in Florida lead in the highest number of one-way U-Haul moves in 2023, underscoring the Sunshine State’s continued allure and appeal.
The U-Haul Growth Index found Florida represented 28% of the top 25 growth cities – the seventh consecutive year the state has had the most cities represented on the list.
Palm Bay-Melbourne
Ocala
Charleston-North Charleston, S.C.
Sarasota-Bradenton
Austin, Texas
College Station-Bryan, Texas
Charlotte, N.C.
Huntsville, Ala.
Dallas
Myrtle Beach-North Myrtle Beach, S.C.
Kissimmee-St. Cloud
Panama City-Panama City Beach
North Port
Boise, Idaho
Wake Forest, N.C.
Conroe, Texas
Knoxville, Tenn.
Surprise, Ariz.
A ...

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Monday, October 23, 2023   /   by Richard Eimers

More Californians Bypass Texas and Move to Florida

Census Bureau: Fla. and Arizona welcomed more relocating Californians last year as Texas numbers dropped. In 2021, 37K moved to Fla.; in 2022, it grew to 50K.

ORLANDO, Fla. (AP) – The number of former Californians who became Texans dropped slightly last year, but some of that slack was picked up by Arizona and Florida, which saw their tallies of ex-Californians grow, according to new state-to-state migration figures released Thursday.
The flow of Californians to Texas has marked the largest state-to-state movement in the U.S. for the past two years, but it decreased from more than 107,000 people in 2021 to more than 102,000 residents in 2022, as real estate in Texas’ largest cities has grown more expensive.
In Florida, meanwhile, the number of former Californians went from more than 37,000 people in 2021 to more than 50,000 people in 2022, and in Arizona, it went from more than 69,000 people to 74,000 people during that same time period.
California had a net loss of ...

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Beach Road Realty Inc
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798

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