Cape Coral is among top snowbird destinations, new research suggests.
In fact, it is the second most popular target for snowbirds looking to escape freezing weather. That is according to the Trulia website.
Cape Coral is among top snowbird destinations
No less than 39.7% of searches from cold metros went to Cape Coral-Fort Myers.
All the top 10 most sought-after warm weather destinations were in Florida.
In December 2018, nearly one in seven property searches from buyers in colder areas went to Florida destinations.
Inquiries are not necessary from older buyers, says Trulia. “Additionally, while retirees likely make up a bulk of those looking to flee the cold and embrace the sun in the winter months, it’s also likely that many younger home searchers looking to leave colder climates may be attracted just as much by hot job markets as they are by warmer weather.”
The deeper the freeze, the larger the bump in seasonal cold-hot searches. The percentage-point gap between August and December cold-hot searches is almost four times wider in places where the average December temperature is 5 degrees Fahrenheit or below than it is among metros where the average temperature is “only” between 23 and 32-degrees Fahrenheit.
Trulia says, “While we can’t and don’t know what motivates individual searches to any specific place – be it retirement considerations, family considerations, job considerations, simple curiosity or all/none of the above – we can speculate about the trends that we see based on their origin and destination. The data shows us that seasonal shoppers simply fed up with being iced in do exist to some degree, especially in the coldest places.”
Traditional retirement destinations and areas with rapid job growth
The places that attract the most interest from home searchers seeking warmer real estate appear to be traditional retirement destinations. The same is true of areas with rapid job growth.
Trulia compared the age structure and job growth of origin cities with those at the destination. It also compared those of the neighborhoods targeted by an outsized portion of those searches.
Among cold-to-warm searches, 62.6% end up in a metro with an older median age than the source metro. At the same time, 71.2% of all cold-to-warm search activity ends up in a metro with higher employment growth.
There is plenty of overlap between these two types of destination: metros with both an older population and stronger employment growth – potentially the best of both worlds for both groups of potential warm-climate seekers – pull in 45.6% of all search activity.
Search traffic was based on visits to active for-sale properties on Trulia.com, Trulia mobile, and the Trulia app. The share of non-local searches directed at warmer metros was calculated by excluding any searches where the origin and destination were within in the same metro area. Median ages were based on 2017 five-year ACS data.