Texas tops relocation table

Posted by MarkL on January 18, 2015

Texas has become the preferred state in America for people to relocate to. 

The Texas Relocation Report showed that more people relocated to Texas last year than any other state in the US. 

According to the report, Texas gained more out-of-state residents than any other state with 584,034 people moving to Texas from out of state. A majority of these residents originated from California (66,318), followed by Florida (32,619), Oklahoma (29,169), Louisiana (29,042), and Illinois (28,900).

Texas and cities such as Houston and Dallas are enjoying strong economic growth, the report cited as a reason why migration was high. Employment opportunities are good as are salaries. This is reflected in the state and cities' housing markets. 

A report by the Texas A&M Real Estate Center released earlier this year showed between January and October 2014 Houston had 1,194 sales of homes in the million dollar-plus bracket. That was 13 per cent on last year. 

The report said when Californians moved to Texas, they realise their money goes much further in the housing market.

“Even if they don’t have an income typical of a luxury homeowner, they have assets to purchase luxury homes and are stimulating that market,” Jim Gaines, economist at the center, said in the statement.

It's not just people moving in to the state boosting the housing market. Locals are reaping the rewards of a healthy economy. 

“We’re seeing more demand for luxury properties from Texans whose incomes are increasing, enabling them to ‘move up,” and from those moving to our state from elsewhere in the country,” Scott Kesner, the association’s chairman, said in a statement.