Texas ranks #2 for inbound state-to-state moves

Plus: Homebuyer power is up $30,000

February 26, 2026

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Today's newsletter is 657 words — a 2.5-minute read.

1. Nearly 1 in 7 home sales are falling through

According to a report from Redfin, nearly 40,000 home-sale agreements nationwide were canceled in January, equal to 13.7% of homes that went under contract that month. That’s up from 13.1% a year earlier and marks the highest January cancellation rate in records dating back to 2017.

San Antonio posted the highest share of canceled home-purchase agreements among the 47 major metros, with one in five deals (21.2%) falling through in January.

The report suggests that deals are collapsing at a higher rate largely because the market has shifted in favor of buyers.

Source: Redfin

2. Homebuyer power is up $30,000

Zillow published a report Monday showing that a median-income U.S. household can now comfortably afford a $331,483 home with a 20% down payment, $30,000 more than a year ago.

This increase in buying power brings roughly 82,300 additional homes within reach and pushes the share of affordable listings to 40.3% of the national market, up from 34.8% a year earlier.

Houston leads the country in affordable inventory growth, with just under 4,000 more listings now within reach compared to last year. The number of affordable homes rose from 8,180 to 12,176, while the affordable price threshold increased from $274,173 to $298,282.

"A more than $30,000 gain in buying power is meaningful for households that have been stretched thin by high rates. It can mean the difference between settling and choosing," said Kara Ng, senior economist at Zillow. "That doesn't suddenly make this market affordable for everyone, but it does crack open doors that had firmly shut when rates peaked."

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3. Catch up quick

🚚 Texas ranks #2 for inbound state-to-state moves. (TexasRealtors)

🤔 There are 44% more home sellers than buyers. (Redfin)

⬇️ Dallas home prices drop 1.5% as inventory climbs. (S&PGlobal)

🧑‍💻 Keller Williams opens Command platform to 3rd-party developers. (KellerWilliams)

🏘️ Active inventory up 142.1% since January 2022. (Realtor.com)

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4. Waymo's driverless taxis are now available in Texas

Driverless Waymo rides have officially launched in Dallas, Houston, and San Antonio, the company announced Tuesday. Initial operations are limited to zones ranging from 25 to 60 square miles, depending on the city.

  • Coverage areas currently span about 60 square miles in San Antonio, 50 square miles in Dallas, and 25 square miles in Houston, making Houston Waymo’s smallest Texas service area for now.

In all three cities, Waymo is starting by inviting “select riders” from the tens of thousands who have already downloaded its app. More riders will be added in phases as the company prepares to open service to the public later this year. Meanwhile, in Austin, the robotaxis are available exclusively through Uber’s ride-hailing service.

5. Georgetown among the most desirable, rising cities

According to moveBuddha’s analysis, “micro-destinations” — small cities and towns that attract strong interest from movers despite being located in average-ranked states — saw a 10% increase in popularity.

In Texas, Georgetown ranked No. 8 nationally and No. 1 in the state among top micro-destinations, with a 36% increase in its move-in-to-out ratio between 2024 and 2025. It was followed closely by Austin, which ranked No. 16 with a 14% increase.

Georgetown recorded 166 searches for moves into the city for every 100 searches for moves out. The city also ranked No. 10 among the nation’s top-rising cities. Its in-to-out ratio jumped 36% year over year, climbing 37 spots in the rankings.

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