Moving To Sunshine

Despite the slow down in the real estate market, the sunshine state is still growing, according to the University of Florida department that tracks population patterns in Florida.

"There have been a number of news articles lately focusing on the idea that population growth has fallen off the table top in Florida and practically come to a standstill, and that simply isn’t true," said Stan Smith, director of the UF’s Bureau of Economic and Business Research, who led the research. "Florida has a strong economy and adds jobs every year."

During the height of the boom 1,100 new residents were moving to Florida a day, but with the slow down in construction 200 less new residents on average a day are moving to Florida. The estimates released just this week show Florida’s population grew by 331,000 people between 2006 and 2007. The statewide population now stands at an estimated 18,680,367 residents.

Based on the present growth Smith expects Florida to grow by about 300,000 residents a year over the next three years.

"The housing boom certainly contributed to Florida’s growth in those earlier years, and the housing bust contributed to the slowdown this last year," he says. "When economic conditions are tough, it’s much harder for people to sell their homes in New York, Ohio, Michigan or some other state and move to Florida."

However, Florida’s healthy employment level, retirees and foreign immigrants moving to the state have boosted the state’s population. Job growth has been higher in Florida than the majority of the country with new job creation in the leisure, hospitality and health services.

As more baby boomers reach retirement age, many choose Florida to move to for its warmer climate. Much of the state’s growth has occurred along the eastern seaboard, and not in the Destin area over the past three years, considered a second home or vacation real estate market. Flagler County ballooned by 88 percent since 2000.