Florida’s A Winner For Return On Investment

ATTOM data shows metro areas across the state fared well in many metrics

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Steve Goode
Fla. Winner for ROI

Florida scored the top five in the biggest year-over-year increases, led by Naples, up 26.9%, Fort Myers, up 26.7 %, Lakeland, up 25.7%, Port St. Lucie, up 24.6% and Ocala, up 23.8%.

Two Florida metros also factored into the largest median price increases in geographical areas with a population of at least 1 million people. Tampa led the way at 21.9%, with Orlando in fourth place, up 17.7%

According to ATTOM, Florida also scored nine of the top 10 increases in returns on investment. Fort Myers came in at the top, with ROI increasing from 51% in 2021 to 85.4% in 2022.The remainder were: Ocala, 49.7 % ROI to 82.4%; Naples, 44.7% to 77.4%; Port St. Lucie, 62.8% to 84.8%; Miami, 42.9% to 64.1%; Orlando, 42.2% to 62.2%; Tampa, 53.8% to 73.8%; and Jacksonville, 43.7% to 58.4%.

So the news wasn’t as bad as it seemed at the end of 2022, but Rick Sharga, ATTOM's executive vice president of market intelligence, did echo the old saying that all good things must come to an end.

“It seems pretty likely that home seller profits peaked for this cycle in 2022,” Sharga said. “Median prices have declined since mortgage rates doubled between January and October and are likely to decline further in many markets across the country in 2023, reducing profitability for home sellers.”

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Steve Goode
This article was originally published in the Florida Originator March 2023 issue.
Published on
Mar 01, 2023
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