There is only one constant in life–change. Things will always change…sorry get used to it. In terms of population statistics (yawn) baby boomers have been a major part of our population. Until recently.
The Valley – at least Maricopa County – has seen its baby boomer numbers drop since the recession.
Maricopa County’s boomer population decreased by 6.25 percent from 2007 to 2013, according to real estate research firm RealtyTrac. In 2007, boomers made up close to 24 percent of Maricopa County’s population. That share dropped to just over 22 percent in 2013, according to RealtyTrac.
Conversely, less urban Arizona counties – such as Yavapai, Pinal and Mohave – have seen their boomer populations rise significantly. Interesting….
Baby boomers who are retiring – or semi-retiring – are wanting to land in more affordable and often less expensive places. That is resulting in places such as Prescott (Yavapai County) seeing a 33 (yikes) percent gain in boomers from 2007 to 2013, according to RealtyTrac.
Mohave County (which includes Kingman and Lake Havasu City) saw a 31 (yikes) percent jump.
Pinal County, south of Phoenix and home to a number of a new “active adult” communities saw a 24 (yikes) percent increase.
Phil Petersen, president of Phoenix-based Brookfield Properties, is seeing an upswing in demand for homes in Mohave County and Sedona. A lot of that is coming from California – including some foreign investors, he said.
Brookfield specializes in active adult subdivisions geared toward boomers. And, Petersen said, his Phoenix company actually stays out of the often overcrowded, boom-or-bust Valley housing market.
Then lets look at the other end of the spectrum…..
While Phoenix isn’t a landing spot for millennials, the region’s 20-something population grew by 5.1 (not bad) percent from 2007 to 2013, according RealtyTrac.
That is part of what is driving new apartment developments in younger-oriented submarkets such as Tempe, Scottsdale and central Phoenix.
So are things changing in the Phoenix area? Is the population shifting? Lets watch and see.