MARKETS & TRENDS
GROWTH
Changing Times
WHERE WILL STEADY GROWTH BE?
by Ingo Winzer
he economy is constantly changing as companies and
T
Transport/Warehouse Jobs
customers change their behavior. The ongoing pandemic has super-charged some of these changes. We’ve already seen that growth in the healthcare industry has come to a halt and that financially stressed local govern - ments have had to cut payrolls. On the growth side, internet shop- ping has given a boost to transpor- tation and warehousing. This month we list 10 markets where transpor- tation and warehousing provide a significant share of local jobs and show how much those jobs have increased during the pandemic. Memphis (FedEx) and Louisville (UPS) were already big transport centers but the growth in Stockton, Riverside/San Bernardino, Lakeland, and New Haven is Amazon-related. Air travel has not yet recovered in markets like Forth Worth, Miami, and Atlanta but good growth in transport will eventually resume there too. The significance for real estate investors is that jobs in transport and warehousing overwhelmingly are filled by renters. Of course, the end of the pandemic (whenever that is) could cut the popularity of inter- net shopping, but it’s much more likely that these markets will see steady growth in the future. •
% of Total Jobs
Pandemic Growth
15% 17%
Stockton, CA (pictured)
12% 4%
Memphis, TN
12% 19%
Riverside-San Bernadino, CA
10% 4%
Scranton, PA
10% 10%
Lakeland, FL
9% 5%
Louisville, KY
9% 11%
Savannah, GA
8% 5%
Reno, NV
7% 9%
Columbus, OH
7% 33%
New Haven, CT
LOCAL MARKET MONITOR, CARY NC
Ingo Winzer is president of Local Market Monitor, which analyzes conditions in 300 U.S. markets, using such economic data as home values and growth in employment and population. Winzer, who has analyzed real estate markets for more than 20 years, was a founder and executive vice president of First Research, an industry research company that was acquired by Dun & Bradstreet in March 2007. He is a graduate of MIT and holds an MBA in finance from Boston University. Winzer resides in Cambridge, Mass. www.localmarketmonitor.com
Our Investors Metro Analysis shows you the risks and opportunities in 200 local real estate markets at www.LocalMarketMonitor.com. Now with zip code data and job sector analysis.
74 | think realty magazine :: october 2021
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