U-Haul Migration Trends

U-Haul Migration Trends: Houston Ranks as No. 1 U.S. Destination

Destination Cities are ranked by the number of arriving one-way U-Haul trucks in the past calendar year. 

PHOENIX and HOUSTON, May 25, 2018/PRNewswire/ -- Houston is the No. 1 U.S. Destination City according to the latest U-Haul migration trends report, continuing its run atop the list for the ninth consecutive year.

Houston saw a 5 percent year-over-year increase in one-way U-Haul truck arrivals in 2017 to maintain its status as the busiest locale for incoming traffic among do-it-yourself movers. "We are an international city with a strong housing market," stated Matt Merrill, U-Haul Company of West Houston president. "The cost of living remains relatively inexpensive. The average paycheck goes further in Houston. Many companies are relocating here and bringing jobs to our communities. With U-Haul helping move people to the next chapter of their lives, I'm not surprised Houston is the top destination city again."

U-Haul has 33 Company-owned stores and 144 independent neighborhood dealerships, operated by small-business owners, currently serving self-movers in the Houston city limits. Find U-Haul truck and trailer sharing locations in Houston – and in any U.S. or Canadian city – at uhaul.com/locations.

U-Haul International, headquartered in Phoenix, counts down its top 10 U.S. Destination Cities each year as a prelude to Memorial Day weekend, the unofficial start to summer moving season. About 45 percent of moves each year occur between Memorial Day and Labor Day weekends.

Following Houston in the rankings are: 2. Chicago; 3. Orlando; 4. Brooklyn; 5. San Antonio; 6. Las Vegas; 7. Austin; 8. Philadelphia; 9. Charlotte; and 10. Columbus. See the complete top 50 Destination Cities below.

Rankings are based on the total number of arriving one-way U-Haul trucks into a city in the past calendar year. Destination Cities reflect the volume and regularity of do-it-yourself movers coming into a community. They do not account for departing one-way U-Haul trucks, and thus do not necessarily signify growth like U-Haul Growth Cities and Growth States rankings.

U-Haul released its top 25 U.S. Growth Cities and its complete Growth States rankings for 2017 in January. Texas topped the Growth States report despite enduring the wrath of Hurricane Harvey last year, with much of the misfortune befalling Houston residents.

"If you drove through today, you wouldn't know Houston got destroyed by a hurricane," Merrill said. "There are a lot of people still rebuilding, but much of the damage is behind us. There are people everywhere lending a hand to help their neighbor."

Robert Abidin, U-Haul Company of Northeast Houston president, added: "Other than New York City, Houston is the most diverse city of its size in the U.S. The oil industry is growing again. We have amazing colleges. The square footage of the city is immense. You can be in the heart of the city, or you can choose to be in the suburbs to raise your family and be away from the hustle and bustle. Houstonhas something for everyone."

Atlanta, the last city other than Houstonto top the U-Haul Destination Cities list (based on one-way moves in 2008), lands at No. 20. Pittsburgh is the biggest mover among this year's top 50, going from unranked to No. 37. Columbia, S.C., climbs 11 positions to No. 35. California boasts a list-leading seven cities among the top 50 despite having none in the top 10. Texashas six cities in the rankings, including three of the top seven.

U-Haul is the authority on migration trends thanks to its expansive network that blankets all 50 states and 10 Canadian provinces. The geographical coverage from more than 21,000 U-Haul locations provides a comprehensive overview of where people are moving like no one else in the industry. Migration trends data is compiled from more than 1.7 million one-way U-Haul truck rental transactions that occur annually.

The arrival of U-Haul Truck Share 24/7® is revolutionizing the moving industry through its more convenient, more secure way to pick up and return a truck. U-Haul live verification technology allows transactions to be carried out entirely on a smartphone at any hour – day or night. There are no membership fees. Download the U-Haul app or go to uhaul.com to create an account.

U-Haul Top 50 Destination Cities

1. HOUSTON, Texas
2. CHICAGO, Ill.
3. ORLANDO, Fla.
4. BROOKLYN, N.Y.
5. SAN ANTONIO, Texas
6. LAS VEGAS, Nevada
7. AUSTIN, Texas
8. PHILADELPHIA, Pa.
9. CHARLOTTE, N.C.
10. COLUMBUS, Ohio
11. TAMPA, Fla.
12. SAN DIEGO, Calif.
13. PHOENIX, Ariz.
14. JACKSONVILLE, Fla.
15. SACRAMENTO, Calif.
16. DALLAS, Texas
17. INDIANAPOLIS, Ind.
18. LOS ANGELES, Calif.
19. TUCSON, Ariz.
20. ATLANTA, Ga.
21. MIAMI, Fla.
22. SAN FRANCISCO, Calif.
23. BRONX, N.Y.
24. WASHINGTON, D.C.
25. FORT WORTH, Texas
26. PORTLAND, Ore.
27. NASHVILLE, Tenn.
28. COLORADO SPRINGS, Colo.
29. CINCINNATI, Ohio
30. BALTIMORE, Md.
31. PLANO, Texas
32. RALEIGH, N.C.
33. DENVER, Colo.
34. KNOXVILLE, Tenn.
35. COLUMBIA, S.C.
36. OKLAHOMA CITY, Okla.
37. PITTSBURGH, Pa.
38. LOUISVILLE, Ky.
39. RENO, Nevada
40. SEATTLE, Wash.
41. RICHMOND, Va.
42. SAN JOSE, Calif.
43. BAKERSFIELD, Calif.
44. DURHAM, N.C.
45. MADISON, Wis.
46. JERSEY CITY, N.J.
47. ALEXANDRIA, Va.
48. FRESNO, Calif.
49. MEMPHIS, Tenn.
50. TULSA, Okla.

* Rankings based on total one-way U-Haul truck arrivals in 2017. For the purpose of migration trends lists, New York City boroughs are listed as their own cities.

RE/MAX Luxury Report

RE/MAX Luxury Report on Metro Chicago Real Estate: $1 Million-Plus Home Sales in 1st Quarter Reach New Heights, Prices Rebound

CHICAGO, April 30, 2018 /PRNewswire/ -- The market for Chicago-area homes selling at $1 million or more showed broad strength in the first quarter of 2018, according to the RE/MAX Luxury Report on Metro Chicago Real Estate, a quarterly analysis of market activity. First-quarter sales totaled 489 units, the most in that quarter since RE/MAX began tracking luxury sales in 2011 and an increase of +7.5% over the same quarter last year.

Perhaps of even greater significance was the +5.5% increase in the median sales price of $1-million-plus homes, which came in at $1.35 million. It was the second consecutive quarterly gain following four quarters in which the median price declined in comparison to the same period one year earlier.

A third encouraging result for the quarter was a continued reduction in the number of unsold homes listed for at least $1 million. Luxury listings fell -5.6% to 2,742 units, declining only -0.6% in the City of Chicago but falling -8.4% in the suburbs where the inventory had been especially high for the last few years. Even with that reduction, existing luxury listings in the suburbs still represent a 22.5-month supply of homes based on the pace of first-quarter sales. In comparison, there is an 11.8-month supply of luxury homes in Chicago.

"Demand for luxury homes is clearly on the upswing right now, but only time will tell if this is a temporary situation sparked by buyers eager to act before interest rates move higher, or if this reflects a longer-term trend that will help pare down the large number of luxury listings on the market," said Jeff LaGrange, Vice President, RE/MAX Northern Illinois Region. 

"Of particular interest going forward will be the trend in the median sales price. If it continues to advance, it will confirm that demand and supply are moving into better balance," he said. 

City of Chicago Luxury Sales

Chicago's luxury-attached-home market enjoyed an upbeat first quarter, with 140 luxury units changing hands, +16.7% more than the same period in 2017.  That compares to 120 luxury detached homes sold in the quarter, a decline of -1.6%, but still the second strongest first-quarter sales figure for luxury detached homes since RE/MAX began tracking that data in 2011.

The combined +7.4% increase in city luxury sales for the quarter came along with an uptick in average market time to 166 days, a 12-day increase. And while the inventory of luxury homes for sale in the city remained essentially stable, falling just -0.6%, that result masked an interesting split.  The inventory of luxury attached homes, spurred by new development, rose +12.9%, while the detached luxury inventory was down -14.7%, reflecting a recent slowing of new construction in that category. 

One noteworthy shift in the attached market was the emergence of the city's Near West Side as a major locus for luxury residences. During the first quarter, that area registered 25 luxury attached sales, trailing only the Near North Side, the traditional leader of the attached market, in unit volume. That is particularly striking because from 2011 through 2017, first quarter sales of luxury attached homes in the Near West Side totaled only eight units. In 2017, there were 12 luxury attached sales there during the first six months, then 33 sales in the July-December period. 

The median sales price for attached homes, which are primarily condominium apartments and townhouses, was $1.33 million during the first quarter, a gain of +4.7%. For detached homes, most of which are single-family houses, the median rose +3.9% to $1.39 million.

Suburban Luxury Sales

Suburban luxury sales, which almost exclusively involve detached homes, delivered generally positive results. Sales activity rose +7.5% to 229 units during the first quarter, and the median sales price climbed +2.4% to $1.3 million compared to the same period last year. Average market time, however, increased to 257 days from 228 days a year earlier. 

Hinsdale had the most active luxury market, with 29 sales completed, a +16% increase, while its traditional rival for the top spot, Winnetka, recorded 23 sales, a decline of -17.9%. 

Solid sales gains were seen in several other leading suburban luxury markets, including Wilmette, up +8.7% to 25 units; Lake Forest, up +84.6% to 24 units; Naperville, up +116.7% to 13 units and Glencoe, up +120% to 11 units.   

RE/MAX Northern Illinois has been the leader in the northern Illinois real estate market since 1989 providing a full range of residential and commercial services. With more than 2,200 sales associates and 106 offices throughout the area, RE/MAX Northern Illinois has helped thousands of families with their home buying and selling needs. For more information, visit illinoisproperty.com or download the Illinois Property mobile real estate app.