Dallas beats Austin as top Texas city for new residents amid pandemic
New York City Mayor Bill de Blasio recently tweeted a link to a Forbes article headlined, “Move over Austin, because as the song says, if you can do it here, you can do it anywhere – and it is It’s easier than ever for young dreamers to make it to the world’s largest city! “
Though it’s a stretch to say that de Blasio tried to start a “feud,” the tweet shows the national hype surrounding Austin – from major news outlets covering a COVID-induced wave of people calling big cities for better Quality of Life in Austin is being traded in Central Texas to companies like Oracle moving their operations to the capital.
But new data from Redfin says it isn’t Austin who is drawing the most newcomers to Texas. It’s … Dallas.
In its new report, released Feb. 4, the real estate agent used data from 1 million Redfin users and the US Census Bureau to calculate pandemic migration based on net inflow (another name for people moving to town ) and calculate the number of houses for sale compared to last year, median property price and new building permits to calculate the 10 metro areas with the greatest blessings.
Dallas may not have captured the headlines (or tweets) awarded to Austin, but at 76,037 people, Big D had the second largest net inflow in the US last year, adding nearly 30,000 more people than Austin.
That’s most of the residents Dallas has added in the past decade.
Austin is a few points below Dallas, the No. 5 subway area with the largest net inflow in 2020. Last year, the capital welcomed 46,958 new residents. As in Dallas, that’s more than any other year in the past decade.
Coupled with the pandemic, the influx has sparked a residential property explosion in Austin, with the number of homes for sale down 19.2 percent year-over-year and Austin Round house prices down 15.2 percent to a median Rock Metro area rose from 370,000 US dollars.
Dallas is also experiencing a housing shortage: the number of properties for sale is 35.7 percent lower than last year, and the median property price is 9.1 percent higher to $ 323,900.
“People are not moving to places with more houses available, but to places with cheaper houses,” said Daryl Fairweather, Redfin’s chief economist. “Remote workers leaving expensive places for relatively affordable areas, in part because the appeal of having more homes for less money is strong, exacerbates housing shortages in more affordable parts of the country.”
First place in the Redfin report went to Phoenix, a city that more than 82,000 people moved to last year. Like Dallas and Austin, Phoenix attracts California shoppers looking for better tax rates, warm weather, outdoor amenities, and affordability. And like his counterparts in Texas, there are some long-term residents who are struggling to afford the new normal.
“While Phoenix is affordable compared to other places, prices have risen significantly over the past year,” Phoenix-based Redfin agent Van Welborn said in the report. “Locals have a hard time taking their offers because there are so few homes on the market, and often someone from California will make a competing offer at a higher price and forego the rating.”
Dallas and Austin in the top 10 include Phoenix (No. 1); Orlando (No. 3); Tampa, Florida (No. 4); Las Vegas (# 6); Atlanta (No. 7); Greenville, South Carolina (No. 8); Charlotte, North Carolina (No. 9); and Knoxville, Tennessee (No. 10).
According to Redfin, Bill de Blasio has the right to tweet his concerns about New York City. The Big Apple lost 273,248 residents last year, most of the cities in the United States. Right now, the number of homes in the market is up 27.7 percent and the median home price was $ 550,000 in December.
In Los Angeles, No. 2, there was also a mass exodus in 2020, in which 124,175 residents were lost. Chicago was next in 3rd place, followed by the San Francisco Bay Area (4th place); Detroit (No. 5); Seattle (No. 6); Boston (No. 7); Miami (No. 8); Washington, DC (No. 9); and Baton Rouge, Louisiana (No. 10).