People are leaving Texas.
That’s the news today. People are leaving Texas and they are leaving in droves. But you hear that people are also moving to Texas too. So what is the real scoop?
Who is leaving Texas?
According to Bill Hethcock of the Dallas Business Journal, last summer’s migration by high-earners left Dallas in the # 6 place to leave behind. Further investigation revealed that these people left due to job relocation and many moved back to their home state for their new job.
Who is coming to Texas?
Interesting, though, is U-Haul’s report that Dallas ranked as 2013’s Top US Growth City. And, data from Texas Real Estate shows more people moved into the State than out, a net increase of more than 138,000 new residents in 2013. This likely explains the low inventory of housing and multiple bids with cash offers that we are still seeing today.
So why does this matter?
This trend of people moving into Texas was initially based on the bad economic situation in coastal States such as California or New York. Those economies are improving so the influx should be easing up but it isn’t. Companies are moving here for several reasons, most frequently stated reason is the favorable business climate and cost of living. But another factor is equally or more important and that is Dallas is the # 6 metro economy in the world right now, ranking higher than many countries. Now that’s bragging rights right there!
Realtor Brenda is a licensed real estate agent with Ebby Halliday Realtors in the Dallas/Ft Worth metroplex. Realtor Brenda is in Ebby’s Frisco office located at 1415 Legacy Dr, Suite 100, Frisco, TX 75034. Office telephone is 972-335-6564 and cell/text is 469-408-3148. www.realtorbrenda.com
Relocation Reports Retrieved from World Wide Web 1/4/2014