by Will Tygart

M4 Real Estate Group in house marketing, advertising, and strategy expert.

“Musical Chairs” is how I describe the current real estate market across the United States. Companies are moving more and more to remote work for their employees which has changed how people look at housing.

Codeless’ recent article, Remote Work Statistics in 2022: Facts about Telecommuting, spotlighted some stats that show that remote work trends won’t be changing anytime soon:

Key Remote Work Statistics

  • 36.2 Million Americans will work remotely by 2025.

  • It's estimated that 1 in 4 American workers will continue to work remotely until the end of 2022.

  • Around 30% of the population has been working from home during pandemic period.

  • Over 77% of remote workers are more productive when working from home.

  • 16% of companies in the world are fully remote.

  • 74% of workers say that having the option to work remotely would make them less likely to leave a company.

Figuring out just Where people are moving isn’t as easy as you’d think. The graph below (using data from the USPS and US Census Bureau ) shows how the Seattle - Tacoma - Bellevue, WA area has experienced people moving that were in the same region, but pockets in California, Arizona, and Texas seem to be popular as well.

The six Texas cities that showed up the most included:

  • Dallas - Ft Worth

  • Houston

  • San Antonio

  • Corpus Chrisiti

  • McAllen-Edinburg

When you eliminate the need to be close to your employer, price is often the determining factor for relocating from the Seattle area.

Using the Bothell, WA (just North of Seattle) market report you can see that the current inventory stands at 215 listings at an average market price of $1.33 million.

 

The median home prices are much lower in Texas;

 

Why are businesses moving to Texas?

9th largest economy in the World!

In an article by Ward North America, 21 REASONS WHY EVERYONE IS MOVING TO TEXAS, Texas has seen an increase in businesses moving their operations to the state to take advantage of the business-friendly laws.

Texas’ bustling economy makes finding employment here easy, adding more than 1,000 jobs daily through companies such as Tesla and Black and Decker. Many of those jobs pay above the national average, while the state’s unemployment rate remains below the national average. You can find a job in a wide variety of sectors, including the following:

 

Scenarios where a homeowner would sell their Seattle Home, invest in a summer home on Hood Canal, and then pack up the family and move to Texas the other 9 months of the year might just be a growing trend as the music has stopped playing so fast in this market and people try to find real estate scenarios that help build wealth in an uncertain market.

What do you think? I’d love to hear your comments on here, 360-217-9093, or will@tygartmedia.com