[Source: Market Wire via COMTEX] — A new Nielsen Company analysis aimed at uncovering expansion opportunities for the retail industry in a down economy has found that sustained growth is occurring in large metros such as Atlanta, GA; Dallas, TX; and Phoenix, AZ, which ranked as the top three fastest growing markets over the last eight years. The study, which was conducted by Nielsen Claritas, Nielsen’s leading marketing information source, and based on data compiled as of early 2008, showed that Atlanta and Dallas CBSAs (Core Based Statistical Areas) added more than one million in population since 2000, while the Phoenix CBSA was close at 971,849.
Rounding out the top five were the Houston and the Los Angeles CBSAs, which also grew by nearly a million people at 949,905 and 939,317, respectively. A CBSA includes both metropolitan areas of at least 50,000 population and micropolitan areas with a population between 10,000-49,999. “And while some of these markets like Phoenix and Los Angeles have been hard hit by the recent wave of foreclosures, there has been no mass exodus from these markets or anywhere else.
People who have foreclosed most likely have not left the market but rather have just become renters. Faltering markets, such as these, will likely rebound and continue to grow — and their underlying demographics are solid,” said Mike Mancini, Nielsen Claritas Vice President of Data Product Management and co-author of a whitepaper that documented the study’s findings, titled “Finding Growth in Challenging Times: Seven Indicators to Evaluate Population Growth.” [Note: To read the full article, click here.]