Realtor, one of America's largest real estate platforms, last week released a new study surveying the cities with the highest out-migration from September 2024 to August 2025, revealing a trend of Americans leaving cities that were once highly attractive.
Kansas City, Missouri; San Antonio, Texas; and Indianapolis, Indiana, nationwide topped the list for housing turnover, meaning residents selling homes and moving out, with 45 transactions per 1,000 homes.
"'This year I've helped the highest number of clients sell homes and move out of the city ever', Majid Ghavami, a real estate agent in Kansas City, told Realtor. According to Ghavami, many retired couples are choosing to leave Kansas City for warmer climates, which are more suitable for retirement.
According to Axios, in Indianapolis, about 65% of local homebuyers are looking for properties outside the city, a sharp increase from 47% in 2019. However, observers say the most surprising trend is the wave of home sales in Texas.
Small homes built in San Antonio, Texas, in 2023. Photo: SAR.
Among Realtor's top 10 US cities with the most homes listed for sale, 4 are in Texas: San Antonio, Dallas, Austin, and Houston, which 4 years ago saw a massive influx of residents.
Many Americans left high-cost coastal states like New York and California for areas with larger homes, warmer climates, and more favorable taxes and fees during the Covid-19 pandemic. Major cities in states such as Florida, Texas, and Tennessee consequently experienced a strong housing market boom.
During this period, a surge in home purchases combined with extremely low interest rates pushed real estate demand to high levels, far exceeding the limited housing supply on the market.
According to experts, the reversal in Texas stems from major cities overbuilding homes during the pandemic to meet the demand of newly arrived residents.
"'Cities like San Antonio, Dallas, and Austin have seen significant construction activity over the past 5 years, cooling home price growth and expanding options for buyers, thereby encouraging frequent transactions', explained Hannah Jones, a senior expert at Realtor.
However, Texas is no longer as attractive as before. A 2024 report by leading US moving company Atlas showed that for the first time in 5 years, Texas dropped from a state attracting new residents to a neutral status. This year's report shows the situation remains largely unchanged.
"'A part of the reason for Texas's reduced appeal could be rising living costs and hot climate', stated Lauren Piekos, a senior official at Atlas, in 2024. 'Housing affordability was one of the biggest drivers of the Texas market's growth in recent years, but it is gradually disappearing'."
Duc Trung (According to AP, Washington Post)
