Earlier today, the U.S. Census Bureau released numbers for July 2006 – July 2007.
From 2000 – 2007, our humble little Town of Gilbert had the third largest percentage increase in population in the country at a whopping 82.3%. Gilbert was also the eighth fastest growing “large city” between July 2006 and July 2007 with a 5.8% increase in population to 207,550. New Orleans, in continued post-Katrina recovery mode, topped that list with an increase of 13.8%. (Of note: while the population of New Orleans may be recovering, it is still down more than 50% from it’s pre-Katrina high.)
With a population increase of 34,941 between July 2006 and July 2007, Phoenix ranked second on the list of largest numerical increase in that time period, trailing Houston by about 4,000.
There’s a ton of data available at the Census Bureau site. I may throw some charts together for the Phoenix metro area, time permitting.
What does this mean for Phoenix real estate?
Well, people continue to move here in droves. They all have to live somewhere…
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I feel being in Arizona is like just watching a growth engine constantly goes off around you. Even in Tucson Arizona just 10 years ago this was such a smaller city then it is today. Every 6 months the city changes with new developments, job facilities, etc. then when you take a drive through Phoenix its just enormous. I think Phoenix and Tucson AZ real estate prices although trends will always be up and down the long term trend has to be up due to the regular population which will in turn spur demand to purchase a home here. I don’t think there is a city that has undergone significant population surges for a long amount of time where real estate prices have not increased along with the population.
I see that six of the twenty-five ‘fastest-losing cities’ were in Florida.
Wow What’s up with Mckinney, Texas? up 112.5%!!! I went to Mckinneytexas.org The pictures look pretty. 30 miles N/O Dallas. BUT….Gilbert doesn’t have the Mosquitoes that Mckinney has! The spraying schedule is on the front page! I can just hear those buggers buzzin past my ear! I LOVE ARIZONA!
“Of note: while the population of New Orleans may be recovering, it is still down more than 50% from it’s pre-Katrina high.”
WOW! I didn’t realize how many people hadn’t returned to New Orleans. That is truly amazing and sad at the same time.
Holy smokes, interesting article. I live in Gilbert, I do love it here. I hope it does well, because I would like to see the real estate go up