Texas Attracting New Home Buyers from Other States in Droves

The Texas housing market has benefited from affordable home prices and cost of living compared to the rest of the nation, but it’s also a great place for business, driving many corporations to relocate headquarters and establish new office locations in the Metroplex and Dallas areas.

The Texas Association of Realtors recently issued its Texas Relocation Report, which found that Texas leads the nation in relocation activity and could even be described as a “domestic migration destination.”

“Data from the Texas Relocation Report shows that the continued growth of the Texas housing market is not a housing bubble but a genuine surge in demand fueled by job and population growth across the state,” said Shad Bogany, chairman of the Texas Association of Realtors. “People are moving, and they’re moving to Texas. Clearly, Texas is a domestic migration destination.”

Taking a closer look at the numbers we see that the Lone Star State experienced a net gain of 9,100 households moving into its boundaries when compared to Texas households moving to other states.

Drilling down further on the state map, Dallas County was listed as one of the most desirable of Texas counties in terms of mobility, ranking second as the most mobile Texas county.  I don’t exactly know how they come up with this, but as a Dallas county resident, I will happily accept the 2nd place ranking.

As if the Texas Association of Realtors report wasn’t enough, a corroborating report from U-Haul found similar results as Texas was determined to be the No. 2 state in the country in 2012 when it came to growth.

So what makes the Lone Star State so desirable?  There is no state income tax which is a great starting point.  Couple that with a strong and growing work force and a centrally located geographic presence for national corporations, you’re looking at a powerful hub to create and attract new business and job growth.  The barbecue and Tex-mex may also help….

If you or someone you know is relocating to the Dallas area, we’d love to be a resource.  Not only can we help secure a great mortgage loan, but we have great contacts in the state ranging from Real estate, insurance, moving companies, and concierge.  Contact me today to learn more about the Texas real estate and mortgage market, 972-499-0454.