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Significant Digits: March 2021

Each issue of Due Diligence offers a unique collection of Significant Digits which are charts with short descriptions. The goal is to highlight some interesting data from the market that can be understood at a glance. This issue reveals the 2020 pattern of residential sales in Florida and continued growth in state population.


Residential Sales in Florida

Florida single-family home sales volume suffered a Covid-19 blow during the second quarter. However, the recovery was quick and significant with a total of 310,378 sales during the year. this is a 5.8% increase over the 2019 volume.

Total Number of Closings During 2020: 310,378
Change from 2019: 5.8%

Source: Florida Realtors

Population Growth in Florida

Population Growth by Decade

  • Florida %
  • United States %
  • Both Florida and the United States have shown slower population growth over the last three decades
  • Each decade the growth rate in Florida has outpaced that of the US
  • Florida’s rate of growth is slowing at a less aggressive pace than the US rate
  • Over the last decade, Florida’s population grew at twice the rate of the US population

Sources: US Census Bureau and University of Florida, Bureau of Economic and Business Research, 2020

Florida Population Growth

  • Annual Projection %
  • Actual Growth %
  • Average annual population growth consistent with the decade chart above is approximately 1.4%
  • Even though the decade growth rate has declined over the past three decades, the population growth during the past year was greater than the current decade average
  • 2020 population growth significantly exceeded its expectation

Sources: US Census Bureau and University of Florida, Bureau of Economic and Business Research, 2020