Saturday, January 4, 2014
by Christie Cannon
Chances are if you are not the new kid on your block, then your next door neighbor is....
In 2013 (measured July 2012 - July 2013), Texas led the nation in state-to-state migration edging out California by about 14% (about 2x the national rate)! This is Texas' 8th year straight as the leader in population growth. The US Census Bureau just released an estimate that 1.3 Million people moved here since 2010.
While many factors likely played a role, it certainly doesn't help that Texas out performed the national in job creation by approximately 2:1!
Many (if not most) home-buyers currently looking for houses have seen the effect of this growth, combined with the lingering effects of the past few years economies,resulting in very low inventory (much to home-builder's delight). The tight inventory of pre-owned & new homes continue to drive & maintain prices above historical growth.
If the state's migration trend continues as predicted (even at a diminished rate) & we continue to see populations move from rural to urban & suburban areas, it is likely that all residents will feel the continued growth more & more in our daily lives as state & local leadership are faced with increased challenges from water usage & traffic. Fortunately, may experts believe that between a stronger economy, stricter financing, & some very hard lessons's learned, Texas is not as likely to return to the boom-bust cycle we suffered in the 1980's.
- Christie Cannon
