CALIFORNIA – Realtor.com, a provider of online real estate services and subsidiary of News Corp, announced February 6, the relocation of its corporate headquarters to Austin, Texas from Santa Clara.
The company said with the move, it has made Austin its top hiring location and has committed to the long-term growth of its team and office footprint in Texas.
“We are proud to be housed in a state which understands the crucial role played by business in providing opportunities for personal growth, professional success and community achievement,” said News Corp chief executive officer Robert Thomson.
Realtor.com says Texas will overtake California as most populous state in 2045
According to RemoteBuild, 161 companies have left California since 2020. Of those companies 57% relocated to Texas including X (Twitter), Chevron, SpaceX, Charles Schwab, Oracle, Hewlett Packard Enterprise, CBRE Group and Palantir.
A new report by Realtor.com found that Texas is the fastest growing state and is forecast to overtake California as the most populous state in 2045.
“According to the report, top reasons people move to Texas are for plentiful jobs, affordable housing, and a different climate, and primarily come from California and abroad,” said Realtor.com in a news release.
California has the fifth largest economy in the world
According to the U.S. Bureau of Economic Analysis (BEA), California’s Gross Domestic Product (GDP) was approximately $3.9 trillion in 2023. This places it fifth behind the United States, China, Germany, and Japan when compared to national GDPs.
Despite challenges like high living costs, housing shortages, and regulatory hurdles, California’s diverse and innovation-driven economy continues to maintain its leadership worldwide.
