[New] Corporate Relocations To DFW dropped In

2022

Mortgage rates soared in 2022. Corporate headquarters relocations to Dallas-Fort Worth and statewide dropped precipitously from their record levels in 2021.

Are the two related? Steve Triolet, research director for Dallas-based commercial real estate firm Younger Partners, is sure they are. He sees a definitive correlation between the plunge in corporate relocations in the wake of higher interest rates. He expects that to continue in 2023, Triolet said in an interview on the topic with the Dallas Business Journal.

The explanation is logical. Employees who own homes in another state are hesitant to move because of the higher costs of buying a new home in a new market, causing C-suite executives to stay put for now, Triolet said.told the Dallas Business Journal.

According to the “Relo Tracker” from YTexas — the Austin-based business network that connects executives who have recently moved to Texas or are considering a move — at least 24 businesses moved to the state in 2022. That’s down more than 60% from a record 62 that made the move in 2021.

Almost 40% Of Texas FixRate Mortgages Under 3%

To determine the U.S. states that get the best mortgage interest rates,