Austin remains top U.S. boomtown as Southern metros lead growth

Austin, Texas, has been ranked as the leading boomtown in the United States for the third consecutive year according to an analysis by LendingTree. The metro area recorded a 3.4% increase in housing units and a 3.1% population increase, alongside an 11.3% rise in new business applications.

Southern metropolitan areas dominated the study, claiming eight of the top 10 growth markets. Raleigh followed Austin in the rankings, driven by a 4.4% workforce growth and a 6.5% increase in median earnings. Other notable markets included Seattle, Charlotte, Tampa, Phoenix, and Jacksonville.

While these regions show significant population and housing growth, the report notes that this does not automatically translate to increased mortgage loan volume. Experts suggest that loan originators must use tactical approaches, such as relocation referral channels and seller concessions, to capitalize on the growing pool of prospective borrowers.