FGCU study shows SWFL housing market still benefiting during pandemic

Reporter: Dannielle Garcia Writer: Jack Lowenstein
Published: Updated:
Credit: WINK News.

According to a new report from FGCU, Southwest Florida’s economy has a promising side effect from the pandemic.

It says single-family home building permits went up 39%. Home sales up 37% and home prices up 13 to 30%.

An economic expert says, thanks to low interest rates during the pandemic, more people are upgrading or buying new homes, especially since more people need office space to work from home.

β€œOne of the big things we’re seeing here is early retirees moving, plus people who could work from home remotely also making this move to Southwest Florida,” said Amir Neto, the interim director Regional Economic Research Institute in the Lutgert College of Business at FGCU.

The report also shows, while airport activity rose from November to December 2020, it is still 41% lower than what it was the year before.

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