Notably, the report cited an 8.9% increase in statewide housing prices (measured from Q1 2013 to Q1 2014), a 3.1% bump in payroll jobs (June 2014 vs. June 2013) and a higher-than average growth in the state’s working-age population.
Ahead of Florida in Business Insider’s rankings: Colorado, California, Texas, Arizona, and Utah.
The team responsible for the report, which was published August 4, 2014, posted separately about their methodologies.
For the second year in a row, Sarasota made the “Top 10” list for moving destinations in the United States.
In its annual report published January 22nd, Penske Truck Rentals shows Sarasota climbing from the #10 slot last year (based upon 2012 data) to the #2 position this year (based upon 2013 data) in a new combined entry with Tampa. The company analyzes its one-way truck rentals in order to determine where people are moving within the United States.
Atlanta remains the top destination in the US for this year, and the Orlando—the only other Florida city in the Top 10—holds on to its number 4 slot.
Not surprisingly, Penske cites “the Northeast” and “the Midwest” as big originating points for many of these migrations.
Given this year’s harsh winter conditions, it’s easy to picture this trend continuing in 2014.
Why Combine Tampa and Sarasota?
The report acknowledges Sarasota’s previous #10 ranking, but fails to mention the rationale behind combing Tampa and Sarasota into a single, new entry for this year’s report. I guess we can speculate that Tampa, which didn’t make the Top 10 last year, must have seen an increase throughout 2013. CNN Money apparently believes that Tampa is the only city worth mentioning, as they dropped Sarasota completely from their story about the report. HuffPo managed to get it right, including Sarasota in the #2 slot.
As any resident of the region knows, the Tampa market and the Sarasota market are significantly different. In an infographic published with the report (see below), Penske compares a couple of key market dynamics which they compiled from other sources.
It paints a somewhat amusing picture of the region, showing Sarasota’s median income at $40,813 (6% less than Tampa’s $43,514 figure). Seeing that number compared side-by-side with the average listing price, which is $613,779 for Sarasota (compared to Tampa’s $258,675 average listing).
So… on average, we make 94% of what Tampa’s residents make, but our real estate costs 2.37 times as much as theirs!
Well… that’s the conclusion someone might draw who looks casually at Penske’s data, anyway.
The true story, as we know, is much more complicated than that. Thanks to the perfect storm of 2008, which combined the collapse of the residential housing market and a local Sarasota economy overly dependent upon new construction, our real estate is still a jumbled mess of foreclosures, an unusually high percentage of rental properties, and vacant or abandoned houses. That mess, alongside so many high-end properties on Casey Key, Longboat Key, Bird Key, and Siesta Key (let’s hear it for the #1 beach in the US, right?), makes for a statistician’s nightmare.
In any event, it’s nice to see Sarasota make the list again, even if we were combined with Tampa to get to #2. Perhaps the real estate market will really finish its rebound! Well… one can hope, right?
Advance notice is a beautiful thing, isn’t it? I just got word (via the official e-mail list from his office) that Congressman Vern Buchanan has a Town Hall Meeting planned in Manatee County for tomorrow afternoon. As promised, I’m delivering the details to you here:
When: Thursday, August 20, 2009 at 4PM
Where: Braden River High School, 6545 SR 70 East, Bradenton, FL 34203
Braden River High is very close to the I-75 / SR 70 interchange. Take I-75 to Exit 217 (SR 70), then head West to Caruso Road. The school is on the right (North) side of SR 70, but if I’m not mistaken you need to turn North on Caruso to get to the entrance.
For the record, here’s the text of the official invite:
I would like to invite you to a Town Hall meeting on health care, jobs, and the economy tomorrow, Thursday, in Southeast Manatee County.Â As Congress considers health care reform legislation, it also should work to grow the economy and create more jobs.Â I want to know what you think Congress should be doing.
And also for the record, the language of this invite makes me nervous. Sound off in the comments below!
I recently learned that I’d made a bit of a faux pas. I used the word “recession” in an article I was asked to write for the newsletter that Zig Ziglar sends out every week.
It was an honest mistake. I wasn’t aware of his personal — and consequently, their corporate — policy to simply not use that word. It really got me thinking. After all, Zig has been responsible for mentoring and coaching thousands (tens of thousands? more?) of successful people to the top of their game.
So… from here on out, I’m dropping the word. It might seem like a silly or symbolic move, but I had already decided months ago that we — that is me (David Johnson) and my company (Epiphany Marketing) — weren’t participating in it.
So… we officially renamed the event that I’m privileged to be a part of next week with my good friend, Tom Ziglar. It’s new title is:
How to Attract Customers at Low Cost in this Tough Economy
And perhaps a better title would be, “in any economy.” The fact of the matter is that we’ve systemized some processes that any business can use — after all, it’s the very process we’ve used an honed for years in our consulting work — to bring in a steady stream of new prospects, clients and customers.
Sound good? You can do it.
In fact, the Ziglar organization has been kind enough to permit me to invite you to next week’s event.