Delaware’s Population is Growing: That’s Good for Home Sellers
Good news for home sellers: People want to live here. How do we know? The 2010 U.S. Census tells the story.
Since the previous census, the local population has increased by 14.7 percent. Compared to 9.7 percent for the United States as a whole, that’s quite a jump.
The census is more telling when contrasted with growth in neighboring states. New Jersey grew by 4.5 percent; Pennsylvania by 3.4 percent and Maryland by 9 percent (much of that due to bedroom communities around Washington, D.C.).
The rate of growth in the local under-five population is less than the national average, which means Delaware’s growth is not out of proportion to the birth rate. In other words, the population truly is increasing.
The greatest growth took place in Kent and Sussex, where there has been a noticeable increase in new communities, especially those for adult living.
Typically, people intending to live here, especially retirees from nearby states, sell their homes at a higher price relative to Delaware prices and then move to homes they have bought here for less. The result: positive cash flow.
That’s a pretty strong incentive for any property transfer. Tell your out-of-state friends. —J.C.