A recent study by the National Association of Homebuilders (NAHB) found that 11,152 buyers who could afford the cost of a median-priced newly built home in Texas would not be able to if the price increased by $1,000.
According to this study, Texas has the highest number of homebuyers who would be pushed out of the market due to a $1,000 price increase, followed by California at 9,897, and Ohio with 7,341.
NAHB’s study examines priced-out estimates for every state and more than 300 metropolitan areas.
Texas remains a top destination for incoming residents
Texas ranks second among states for relocation activity, according to data from U-Haul and the U.S. Census Bureau’s 2017 American Community Survey. Nearly half of the new residents moving to Texas in 2017 came from outside of the United States. Among new residents from other states, Texas saw the largest migration from California, Florida, Louisiana, Illinois, and New York.
Get more data about a range of real estate markets and specialties at texasrealestate.com/research.
Coworking space on the rise
The shared office spaces of four Texas metros add up to 6.2 million total square feet, according to Shared Space: Disrupting the Traditional Office report published in December 2018 Yardi Matrix, a company that monitors commercial and apartment trends.
More commonly known as coworking offices, shared offices are typically designed to evoke a relaxed environment, feature community spaces, and offer amenities like food and drinks or childcare.
The report says the rise in people working remotely or as part of the gig economy has increased demand for such office space, and that coworking offices are particularly attractive to the tech sector.
Find the full report on Yardi’s website.