Could our Sunshine State be losing its luster in the eyes of travelling northerners (aka snowbirds) looking for warm-weather real estate? According to analysis conducted by the Associated Press, there's been a 30 percent drop in out-of-state residents applying for Florida licenses over the past few years.
Back in 2003 there were about 585,000 out-of-state applications sent in for Florida licenses. In 2008, the number had dwindled to 410,000, and it's not showing any signs of letting up.
New York, typically Florida's number one feeder state, has sent 34,000 fewer residents to Florida over this five-year span. New Jersey, in the number two spot, had sent 11,000 fewer residents over the years.
United Van Lines, which issues an annual analysis of where people move based on their shipping logs, said other warm weather states including Alabama, Arizona, Nevada, the Carolinas, and Texas are actually flourishing when it comes to out-of-state residents relocating to the south.
Theories as to why these numbers are dwindling are varied; the dwindling real estate market, the recession, hurricanes, increasing insurance costs, and crime - all of which definitely make the state less appealing when it comes to the real estate market.
While it may seem insignificant, out-of-state residencies have typically been a large economic engine for the state due to inexpensive housing, lower taxes, and warm weather.
