Amid Florida's recovery from two major hurricanes in the past two months, the commercial real estate industry is watching to see if residents will move away in favor of calmer weather and if homebuyers will continue to flock to the state as strongly as they have in the past.

The Sunshine State's propensity for hurricanes has not deterred people from moving in over the years. Florida's population has grown to 23 million residents over the past two decades, even after suffering through hurricanes Charley, Frances, Jeanne and Ivan. Just last year, Florida added more than 365,000 residents, the second highest of any state other than Texas, according to an Associated Press report. This population influx has bolstered the CRE market in Florida.

But the state's real estate market has slowed recently, with single-family home sales down 12% year over year in September. High interest rates and rising insurance costs are likely causes, but disruptive storms might also be a factor.