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Fla. Housing Demand Impacts Retirement Communities?

With more people moving to Fla. because of remote work options alongside retirees, greater demand for housing may result in more competition and higher prices.

GAINESVILLE, Fla. – Alongside retirees, Florida is now attracting a wider range of people because of the expansion of remote work. In Gainesville, many people opt to retire to the area because of the climate, but some experts say home prices are rising as a result of an influx of remote workers.

Gainesville-based Realtor® Matthew Chapman says traditionally, when clients move to the area, they are able to easily sell their old home at top prices but have difficulty finding homes because of the high demand.

Chapman, who works for Bosshardt Realty, observes, “We have such an enormous amount of people moving to Florida that when they get here, they’re just competing against all these other people – so it’s more of demand than it is pricing.”

He does not believe this will be a problem over the long term.

Chapman notes, “Gainesville itself has a very healthy market, so when I see headlines saying that remote work is killing the housing market and driving prices up and things like that, that factor may last for a short period of time.”

Martha Tanner, a resident of retirement community Turkey Creek Forest, believes retirees will still come to Florida: “The place is still here and the prices have been up everywhere, so you kind of have to decide which is more important for you at this point.”

Source: WUFT.org (09/13/22) Sedesse, Jacob

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https://www.floridarealtors.org/news-media/news-articles/2022/09/fla-housing-demand-impacts-retirement-communities