By Amber Randall |South Florida Sun Sentinel May 17, 2021
The rising cost of homes in South Florida is chasing some people to other parts of the state.
Some homeowners are cashing in at a profit and moving to more affordable spots like the Gulf coast or farther north on the eastern side, according to moving companies and real estate agents.
To be sure, thousands of people are still streaming into South Florida from the Northeast, Midwest and even California. Florida is expected to gain a little over 300,00 residents a year, according to estimations from the state’s Demographic Estimating Conference.
But Joseph Sabga, president of moving company Bekins South Florida in Fort Lauderdale, said he’s recently been moving more people from South Florida to Tampa, St. Petersburg, Fort Myers, Orlando and the northern parts of St. Lucie County.
Those type of moves are up 108% this quarter compared with the same time last year, at the height of the pandemic, he said.
Forward Van Lines, also based in Fort Lauderdale, has seen in increasing number of people leave the tri-county area for Bradenton, DeLand, Orlando, Fort Myers, Jacksonville Beach and Tampa, according to managing director Guy Maman.
“There is a lot inter-city moving, but there is also a significant amount going to places like Satellite Beach, Punta Gorda or Orlando,” he said.
Many people are seizing the opportunity to sell their homes at a profit as housing prices continue to climb. In cheaper areas, they can buy a bigger home for less money — especially with many people working remotely.
According to discount real estate brokerage RedFin, one in five home shoppers in South Florida have been searching for homes outside the metro area. The top searches are Orlando, Cape Coral, Tampa, Jacksonville, North Port and Palm Bay, according to the brokerage’s data center.