Aubrey Cohen reports on some interesting population growth data just released by the state Office of Financial Management.
…difficulty selling homes elsewhere has slowed population growth here over the past year, according to new estimates from the state Office of Financial Management.
Seattle and King County grew 1.1 percent and 1.2 percent, respectively, between April 1, 2007, and April 1, 2008, down from growth rates of 1.3 percent and 1.4 percent the previous year. Seattle is now home to 592,800 of King County’s 1.88 million residents.
The state grew 1.5 percent to nearly 6.59 million people as of April 1. The growth rate was down from 1.8 percent in the previous year.
Population gain from net migration — the number of people moving in minus those leaving — was 59,000 statewide over the past year, down from 70,000 in 2007 and 81,000 in 2006. King County’s net migration gain was just over 10,000, down from nearly 13,000 in 2007 and 15,500 in 2006.
The nationwide housing slowdown is starting to have a local impact, said Chandler Felt, demographer with the King County Office of Management and Budget.
“We’re not totally insulated from it, and I think we may be seeing more of it in the coming year,” he said.
Another fact not mentioned in the article is that as home prices drop more rapidly in sunny, desirable locations such as California and Florida than they do in Seattle, those places become even more desirable, which can only lead to some people leaving Seattle for more affordable, sunny locales.
(Aubrey Cohen, Seattle P-I, 07.03.2008)