Thursday, December 23, 2010
Tuesday’s U.S. Census results revealed that the state of Washington has gained nearly 830,000 residents in the past 10 years. The results have both earned us a 10th congressional seat and the title of 13th most populous state in the U.S. We grew faster than 2/3 of the nation’s states, yet our growth rate per decade has decreased over the past 70 years. The 14% population increase makes us a state comprised of 6,724,540 people. This increase in population probably protected our real estate market from a an even worse downturn – yes it could have been worse. Hopefully, if our population continues to increase (which it is projected to do) we will see the real estate market improving. Not only could home prices stabilize, but we could see an increase in rental demand which means good things for landlords and property managers. Hopefully, these statistics will result in some positive changes in our local economy.