In this article by Bizjournals, we learned that Tampa-St. Petersburg-Clearwater area ranked No.4 in the U.S. in terms of biggest net inflow of new residents. Tampa Bay alone had an estimated increase of 47,000 people last year, which is more than any year in the last decade with the exception of 2016.
As also mentioned in the article; since the coronavirus pandemic, more and more people are realizing that by relocating outside of larger cities such as Los Angeles and New York, they’re able to cut their living expenses in half and be closer to friends and family back home.
With this influx of new residents we’re expecting a greater demand for more housing. Not just in terms of traditional residential real estate but also with multi-family residential sales as well.
To learn more, check out the full article here.