I was reading a story in the May 24th business section of the Denver Post by Howard Pankratz entitled, “Colo. Population Grew in 2009-10.” In it, he explained how Colorado had a net gain of 56,310 residents in a year’s period, according to the latest statistics by the Census Bureau. The stats show a migration of 210,939 residents moving into the state with 154,629 moving out. One other interesting note at the end of the story was how the nation’s metro areas experienced a net loss of 2.3 million people while the suburbs showed a net gain of 2.5 million movers. This got me thinking about two topics: 1) Obviously, many states are experiencing a severe loss of population, but Colorado is still a place where people want to live. 2) I had been under the impression that more and more people might be moving back to the cities, but the stats say otherwise. What do the suburbs have to offer?
First, let’s tackle my number one point. I think that one of the reasons why we have seen a good real estate market in the first and second quarters of this year is because of relocation. This is a place that people want to work, live, and maybe move their company headquarters. I know from personal experience that I have done a fair share of relocation with the military and Buckley Air Force Base. Not surprisingly, Buckley is very active in moving people in and out of Colorado. This helps the local economy tremendously and helps Realtors like me. Second, there is a lot to like about Colorado and I could spend another two or three pages talking about everything we have to offer, but it seems like the rest of the nation has already taken notice. I think that we should all be optimistic that Colorado had a net gain of 56 thousand residents last year because it puts us in a better position than most states.
The second statistic about people moving to suburbs more than the city is a bit puzzling. We hear all the time about the local government spending money revitalizing the downtown and metro areas. We are blessed here in Colorado to have such a vibrant and active downtown to live, work, and play. Not all cities are as fortunate, and maybe that explains why more people are moving to the suburbs. Having lived in the suburbs for the last 12 years, I do have to say that I enjoy it. There are just too many conveniences within a mile of my home, and activities for my kids are second to none.
In summary, this is good news for Colorado, our economy, and our residents.
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