On May 4, the U.S. Census Bureau released their 2020 county population estimates. According to their data, Maricopa County had the largest population increase out of all counties in the United States. Maricopa County’s population increased by 86,820 or 238 people per day. This was the fifth consecutive year that Maricopa County has led all counties in the United States in population gain. If Maricopa County was a state where would it rank for 2020 net population increase? It would rank #4. Only Texas, Florida and North Carolina gained more people. As for counties in the U.S. the number two county for population increase was Clark County, Nevada at 40,079 and finishing third was Collin County, Texas with a gain of 36,997.
When comparing Arizona Counties for the highest year-over-year percentage growth in population it was Pinal County growing by 4.2% or 19,188 people. Maricopa County was second at 1.9% and Yavapai County was third at 1.8% or 4,164 people.
Is there any wonder why listings are flying off the shelf faster then you can say active listing? Maricopa County’s explosive population growth has fueled an oversupply of buyers. This oversupply is not likely to end soon.
MARK YOUR CALENDER! On May 18th from 9:00 a.m. to 10:30 a.m. will be THE CALL. THE CALL will be a zoom meeting on market trends, market strategies, how to be an influencer with Sellers and Buyers. There will be special guest speakers! To receive a link for the meeting email at Fwilcox@gcta.com and reference THE CALL.
Copyright 2021 by Fletcher R. Wilcox. Reprinted or Adapted with permission.
Fletcher is on the Board of Directors at the Scottsdale Association of REALTORS® (SAAR). In 2020 he started an Influencer Marketing series for real estate agents at SAAR. He is V.P. of Networking for the Arizona Mortgage Lenders Association. He is a member of the Arizona State Escrow Association and the Arizona Association of REALTORS.
Fletcher is the founder of The Wilcox Report. His market analysis on residential real estate in Greater Phoenix has been mentioned in publications such as the Wall Street Journal, MarketWatch, Bloomberg News, HousingWire.com, National Mortgage News, the Arizona Republic, the Phoenix Business Journal and AZ Big Media. He has been a guest speaker on both local and national TV and radio. He served on one of the three Arizona Association of REALTORS® subcommittees which made recommendations for changes to the 2017 AAR Residential Resale Real Estate Purchase Contract. He teaches residential contract law to both real estate agents and escrow officers.
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