Florida is the No. 1 Destination for Relocating Homebuyers

11 12 2018

LendingTree’s latest migration analysis revealed that 12.1% of American homebuyers who relocate to different states prefer to call the south their new home.

The migration report utilized data from LendingTree’s website, gathering information from 2 million new purchase mortgage loan requests made in 2018.

The report indicated that across the country, Florida is the No. 1 destination for homebuyers moving from 15 of the 50 states. Notably, of all purchase mortgage requests, 9.1% were made for Florida, and 12.4% of out-of-state movers requested the state as well.

However, when LendingTree analyzed destination states according to population size, South Carolina scored the highest. In this state, mortgage loan requests were 52% greater than suggested based on its share of the national population.

When it came to homebuyers relocating within their state, Texas led the way with 93.4% of purchase mortgage requests from individuals looking for properties.

Unfortunately, Alaska wasn’t as lucky, as LendingTree revealed only 75.2% of Alaskan homebuyers wanted to relocate within the state, marking the lowest percentage across the country.

NOTE: LendingTree’s popularity score derives from the calculation of dividing the percentage of all purchase mortgage requests for the state by the percentage of the total population each state represents.

Source: LendingTree and National Mortgage News

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Jacksonville is the third-most diverse job market in the U.S.

5 12 2018

Jacksonville has been named the third-most diverse job market in the U.S., according to LinkUp, a job recruiting website. Jacksonville was listed behind Salt Lake City, Utah, and Buffalo, N.Y., respectively.

LinkUp analyzed data from job markets in relation to real estate values and availability in the third fiscal quarter of this year.

The study found that Jacksonville was less reliant on big employers and that job availability provided a wide range of options for workers.

In the top-five job markets, Jacksonville was followed by Raleigh, N.C., and Austin, Texas.

As far as the top-50 job markets in the United States, the least diversified were Cleveland, Atlanta, New York, Chicago and Detroit.

Source: LinkUp.com and Jacksonville.com





Housing sales, inventory trending up in Florida

4 12 2018

Florida’s housing market reported more closed sales, rising median prices and more new listings in October compared to a year ago, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 22,272 last month, up 8.5 percent compared to October 2017.

October marked 82 consecutive months (more than six and a half years) that statewide median sales prices for both single-family homes and condo-townhouse properties increased year-over-year.

Rising interest rates are having a ripple effect across the housing market as the Federal Reserve increases borrowing costs. Analysts expect the Fed to raise rates again a few times in 2019. Areas with strong job or population growth, like Florida, may be able to weather higher mortgage rates, analysts say.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.83 percent in October 2018, up from the 3.90 percent averaged during the same month a year earlier.








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