As reported in an Inman article, May, 2016
According to U-Haul, some cities are just gaining more attention from relocating homebuyers than others, and one of the easiest ways to tell is by looking at one-way truck rentals. U-Haul released its top rankings for the past calendar year based on solely that fact.
With Memorial Day behind us, the unofficial start to moving season is underway. Families throughout the nation are gearing up to pack their bags and venture to a new city before Labor Day. Texas made a big appearance on the list, with Houston ranking first for the seventh consecutive year in a row. San Antonio and Austin also made the top five, ranking in at fourth and fifth, respectively. Since 2014, Austin climbed up the rankings by three positions. Northern neighbor Dallas came in at the 17th spot.
“Houston continues to be an extremely busy location for U-Haul equipment entering and leaving the city, especially during the summer months as families plan their moves with the kids out of school,” Matt Merrill, U-Haul Company of West Houston president, said in a statement. Merrill said U-Haul now has four marketing company offices serving the Greater Houston area in order to meet increasing demands.
Has Houston been impacted by oil prices?
Home prices are still rising in Houston. Demand in the market fell dramatically at the start of fall last year, but it began to pick itself back up in the first few months of 2016. According to Altos Research, the median-single family home value has been consistently on the rise since last November. As of May 20, the median home price is $387,734.
Home sellers are still in demand, which is key for a strong real estate market. Altos Research’s Market Action Index uses 30 as the neutral value to determine whether homebuyers or sellers are in control of the market. While figures haven’t surpassed 30 significantly, they have been consistently above 30 and into seller territory.
- Houston, Austin and San Antonio all rank in the top five destination cities.
- Chicago and Orlando ranked second and third on the list.
- Houston's real estate market doesn't seem too impacted by the oil fallout.