Sunday, March 23, 2008

Maricopa County Population Growth

Maricopa County grew by 109,000 people last year making it the fastest growing county in the nation. Although we've almost hit the 4 million people mark, our population growth has moderated since 2004 and 2005. Some experts predict, however, that within 10 years Maricopa County will be home to 5 million people. Of the population increase last year, 39% came from state-to-state migration and 21% came from international migration, the remaining increase coming from a natural population increase (net gain of births to deaths).

As bad as the real estate market has been over the past couple of years, just imagine how much worse it could have been had we not been the fastest growing county in the nation. There's a bit of a double edged sword here...the affordability and desirability of Maricopa County has been attracting people from all over the country (and other countries for that matter) for many years, which in turn attracted the investor crowd, which was part of the reason for the rapid, out of control price appreciation that occurred during 2004 & 2005.  However, the attractiveness of Maricopa County still remains, as this article confirms, and will continue to lure people to the area hopefully providing for a quicker than average recovery in the local economy and real estate market.

Click Here to read the full article.

-Steve Nicks

[tags] maricopa county population, desert ridge real estate [/tags]