In 2011, when Florida and much of the nation were reeling from the housing market crash, home prices in the state had hit what would be their lowest point. But with the recent release of the latest Clear Capital Home Data Index Market Report, it's obvious things have been turning around in Central Florida and most of the rest of the state in a big way. And Clear Capital attributes a good deal of the Florida housing market recovery to Baby Boomers. 

Current Florida Home Prices Trends 

While overall in the Southern US home prices have maintained a 0.7% quarter-by-quarter growth, housing markets in much of Central Florida and Florida as a whole have impressively outperformed the regional average. 

The Tampa metropolitan statistical area shows the highest quarterly rise in home prices in the state and the country, tied in June 2016 with the Seattle metro area for the number one spot on the list of highest performing major metro markets. Both are at 2.0% quarter-by-quarter growth, while the Orlando and Jacksonville metro areas aren't far behind at 1.7% quarterly growth; the Miami area came in at 1.4% quarterly growth. 

Home prices in the Orlando area, comprising much of Central Florida, have climbed up 44% higher than their market value just five years ago. 

Central Florida County-by-County Home Values 

Here's a quick look at current median home values in a number of Central Florida counties as of June 2016, and how they compare to those of one year earlier. 

  • Lake County: $170,800 – a one-year increase of 4.1%
  • Orange County: $190,800 – a one-year increase of 9.7%
  • Osceola County: $165,900 – a one-year increase of 5.0%
  • Polk County: $139,600 – a one-year increase of 7.1%
  • Seminole County: $201,000 – a one-year increase of 9.0%
  • Sumter County: $234,900 – a one-year decrease of 0.8%
  • Volusia County: $152,400 – a one-year increase of 10.8% 

The Baby Boomers' Role 

Clear Capital found strong correlation between where Baby Boomers are moving and where home prices are showing the strongest growth. In Florida, the top four strongest housing markets have seen 2.5 times more Baby Boomers (homeowners ages 55 to 74) move in than homeowners of other age demographics. 

As for Central Florida, in the Orlando metropolitan statistical area, the increase of homeowners ages 55 to 74 is more than 400% greater than the overall increase in the total population of homeowners. Strong, consistent growth in home values in Central Florida is projected to continue. Central Florida continues to prove itself a smart investment and a great location for active-adult and retirement living.