Im pr H N o o Di vem me EW! re e ow cto nt n ry & er 20 Se 16 rvi ce
UPSCALE LIVING IN HAYMARKET & GAINESVILLE
Haymarket Homeowner HaymarketHomeowner.com
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Real Estate Market Trends Haymarket Area Featured Properties Outdoor Fun: Things to Do This Summer in the Great Outdoors 2016 Homeowner Improvement & Service Directory Tips & Advice: Getting Your Home Ready to Sell on a Budget Just for Fun: New England Favorites Business Spotlight: Kemper Carpet & Flooring Market Watch: May 2016 Published by
BRYAN GARCIA
"Haymarket Real Estate Guy" Associate Broker
EXIT Heritage Realty Haymarket, VA www.EXITgarcia.com 703-517-2574
Real Estate & Community News from Bryan Garcia, "Haymarket Real Estate Guy" 703-517-2574 Summer 2016
Predictions on Population Growth
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ou may have seen the Washington Post article "Far From the City, Far From Recovery"published in May 2016. It talked about how Loudoun County’s suburbs were D.C. area’s hottest housing market until nightmare commutes and a revitalized District flipped a housing switch. After reading this, I couldn’t help but think about the real estate market in our area—specifically some of our larger developments. We know I-66 can be grueling, and studies are indicating that millennials, as well as retirees, are flocking to urban housing. What does this mean for the future of the real estate market for our suburban homes, in our amenity-filled neighborhoods? Well, around the same time I came across an interesting article that featured data released from Coopercenter.org—a UVA demographics research group. New studies were released in May with some interesting population projections for the 50 states including D.C. and Virginia. Here are some highlights: • The U.S. population growth is projected to slow down from nearly 10% over the 20002010 decade to 6% between 2030-2040. Similar trends are also expected from most states. • Back in 2000, California and six of the top ten largest states (by population) belonged to the North. By 2040, five of the top ten are expected to be in the South. • New England will become the oldest
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By 2040, Virginia is predicted to be the 10th largest state by population.
And, Washington D.C. is predicted to be the top fastest growing state. region in the country. By 2030, a quarter or more of the residents in New Hampshire, Vermont and Maine will be 65 or older. Maine continues to have the highest median age in the country, with half of its population aged 48 or older by 2040. • The projected top ten largest states by 2040 include Virginia as number 10. Also on the list are Texas, Florida, North Carolina and Georgia. • Fastest growth is projected to take place in Washington D.C. (fastest), Texas, Colorado, Utah, and Florida over the next 25 years. • The states with the highest decline in projected population are West Virginia, Vermont, Maine, Rhode Island and Illinois. The study of age distribution is a key factor in these projections. In addition to births (Continued on next page)
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