(Bloomberg) -- Miami is still enticing plenty of out-of-staters, at least based on one early indicator of migration trends — and that’s in spite of a modest slowdown in the pandemic-fueled rush of Americans to other parts of southeast Florida. 

In Miami-Dade County last year, more than 21,500 people exchanged out-of-state driver’s licenses for Florida counterparts, slightly higher than in 2022, according to an analysis of Department of Motor Vehicles data from the Miami Association of Realtors. Such exchanges were 21% higher than in 2019. 

“The strong growth of movers from New York, New Jersey and California tells me that there’s still a significant price differential,” said Gay Cororaton, the chief economist for the real estate group. For example, she said, while Miami home prices have jumped since the start of the pandemic, the median of about $615,000 compares to $1.3 million in San Francisco.

Other southeast Florida counties — Broward, Palm Beach and Martin — recorded moderate declines in license exchanges by drivers from other US states. But a surge in foreign license exchanges more than made up for the drop, propelled by people from Cuba, Haiti, Colombia and Venezuela. 

In Miami-Dade, foreign driver’s license exchanges jumped 24% compared with the 1.2% uptick involving people from other US states. Cubans seeking driver’s licenses in Miami increased more than fivefold in 2023 from the level in 2021, when border closures were likely affecting migration patterns.

Overall, southeast Florida saw an 8.3% increase in driver’s license exchanges last year, a number that includes an 8.7% drop in domestic arrivals and 30% surge in international. 

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