2010 Census Data Shows Second Hightest Homeownership Rate on Record Despite Largest Decrease since 1940

Dennis Norman St Louis Realtor, homeownership rates, census dataYesterday, statistician’s from the U.S. Census Bureau gave a briefing on highlights of the housing characteristics data contained in the 2010 Census. Several interesting facts came out, but the one that I found most interesting was that the data shows the U.S., at 65.1 percent, has the second highest homeownership rate on record for the period (see chart below). It’s not that all the recent talk about the decline in homeownership was unfounded however as the census data did show that the drop in the rate of homeownership during this last census period (2000-2010) of 1.1 percent is the largest decrease since the period from 1930-1940. Continue reading “2010 Census Data Shows Second Hightest Homeownership Rate on Record Despite Largest Decrease since 1940

2010 Census data disappointing for St. Louis; what is effect on the St. Louis Real Estate market?

It’s hard to miss the fact that the US Census Bureau just released some of the results of the 2010 census for our area.  It’s been all over the media about St. Charles County’s population surpassing the City of St. Louis and moving it into the spot of the third largest county in the State.

Being the data junkie I’ve become I decided to tear into the numbers and see how the 2010 data compared with the 2000 data to see what changes have taken place in the last decade and see what I could glean from the data to perhaps get a little insight on the impact of these changes on the St. Louis real estate market.  Also, since I have been somewhat of a contrarian in saying the that reports of low housing starts is a good thing as I don’t think we need to add housing units in this market, I thought it would make sense to see if my theory holds water. Continue reading “2010 Census data disappointing for St. Louis; what is effect on the St. Louis Real Estate market?

Population Growth Equals Housing Demand; Which States are Growing?

 

 

Dennis Norman

While there are many factors that go into what makes for a good or bad housing market and ultimately how well an investment in real estate will do in a market, two things in my book are key; population growth and job growth. Actually job growth brings population growth so perhaps it is the most important factor, but I think one could argue that population growth also brings jobs. Those states that, for one reason or another, attract people to live there (ie; no, or low state income tax, good public education, low crime rates, etc) are many of the same things that may attract an employer as well.

The Census Bureau just this month released the latest population estimates for 2009 so I decided to look at the 10-year period of 2000 – 2009 and see where people were going during the real estate boom, and then the bust. Some of the states that attracted many people during the housing boom may have lost some of their luster at this point, so over the next few years the rankings could change, but here are where things stand now.

Missouri didn’t make the “top-ten” chart for most growth but, on a positive note, didn’t make the “top-ten” chart for lowest growth either!  Missouri’s population in 2000 was 5,605.065 and in 2009 was estimated to be 5,987,580 for a growth of 381,515 people during the period which ranks Missouri as 18th in the U.S.  As for percentage of population growth, Missouri had 6.81 percent growth during the period putting it at number 25 in the U.S.   The percentage growth for the U.S. as a whole during the period was 8.80 percent.

3 of the 4 States With The Most Foreclosures Made Both “Top-Ten” Population Growth Charts – Nevada, Arizona and Nevada….California Only Made One Chart –

 

states-with-largest-percentage-population-growth-2000-2009

States with The Smallest Population Growth-