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Fort Worth home owners are experiencing some sticker shock. Among the country’s 50 biggest metro areas, Dallas-Fort Worth saw the 10th biggest rise nationally in mortgage payments from March 2021 to this March 2022, according to a new report from real estate platform Zillow.

The report shows a year-over-over change of 48 percent in the typical DFW-area mortgage payment. That figure is based on principal and interest for a 30-year, fixed-rate mortgage with a 20 percent down payment.

That compares with a nationwide jump of 38 percent.

Zillow says Dallas-Fort Worth's typical monthly mortgage payment is $1,445.

But, let's say it again: "At least we aren't Austin." The Capitol City saw the biggest spike nationally — a whopping 63.5 percent — last year. Zillow pegged the Austin metro area’s typical monthly mortgage payment at $2,299.

“Home shoppers are facing a one-two affordability punch this spring: Quickly rising mortgage rates are compounding affordability challenges that have been brought on by record home value growth,” Zillow says.

Other major Texas metro areas experienced year-to-year spikes in the typical monthly mortgage payment, but not nearly at the level witnessed in Austin. By comparison:

  • Dallas-Fort Worth ranked 10th with a 48 percent year-over-year increase in the typical monthly mortgage payment ($1,445).
  • San Antonio ranked 16th with a 42.8 percent year-over-year increase in the typical monthly mortgage payment ($1,256).
  • Houston ranked 21st with a 38.8 percent year-over-year increase in the typical monthly mortgage payment ($1,144).

Among the 50 biggest metro areas, Washington, D.C., registered the lowest year-over-year increase in the typical monthly mortgage payment, 27.4 percent, the Zillow report shows.

“Higher mortgage rates were anticipated this year, but the speed of their rise has been breathtaking,” says Jeff Tucker, Zillow’s senior economist. “Record-low mortgage rates had been an affordability lifeline during the pandemic, keeping monthly payments in check even while prices climbed quickly.”

“March was the biggest test yet of whether enough buyers can meet the new asking prices to keep home values growing at a record pace, and the answer was ‘So far, yes,’” Tucker adds. “There will be a point when the cost of buying a home deters enough buyers to bring price growth back down to earth, but for now, there is plenty of fuel in the tank as home-shopping season kicks into gear.”

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Dallas-Fort Worth stars as top attraction for residents leaving Los Angeles, Zillow says

Home is where you hang your cowboy hat

Los Angeles’ population losses were Dallas-Fort Worth’s and Austin's gains in 2020.

A new report from residential real estate platform Zillow puts Austin at No. 3 and DFW at No. 4 among the five U.S. metro areas that saw the most inbound moves in 2020. For DFW and Austin, the Los Angeles metro area topped the list of places sending the most new arrivals, the Zillow report says.

Here are the top five metros for inbound moves last year:

  1. Phoenix
  2. Charlotte, North Carolina
  3. Austin
  4. Dallas-Fort Worth
  5. Sarasota, Florida

The ranking is based on SIRVA/North American Van Lines data for moves in the first 11 months of 2020.

Zillow expects the population influx in Phoenix, Charlotte, and Austin to continue in 2021 as people in higher-cost markets seek lower-cost housing elsewhere. A Zillow report in January forecasted DFW as the sixth hottest housing market in 2021, and Austin as No. 1.

Aside from L.A., last year’s top sources of new residents in DFW were the New York City and Chicago metros.

San Jose and San Francisco — accounted for the most new arrivals last year in Austin (after L.A.), the Zillow report shows.

The metro area that experienced the most departures last year was New York City, followed by L.A., San Francisco, and Chicago, according to Zillow.

Zillow refers to this population shift as the “Great Reshuffling.”

In a March survey by Zillow, 11 percent of U.S. adults indicated they had moved in the previous year — either by choice or out of necessity. According to the U.S. Census Bureau, 9.8 percent of Americans moved in 2019.

“The pandemic brought an acceleration of trends we were seeing in 2018 and 2019,” Jeff Tucker, senior economist at Zillow, says in an April 6 news release. “More affordable, medium-sized metro areas across the Sun Belt saw significantly more people coming than going, especially from more expensive, larger cities farther north and on the coasts. The pandemic has catalyzed purchases by millennial first-time buyers, many of whom can now work from anywhere.”

In a typical year, other cities in Texas represent the most inbound moves for DFW and Austin. The Zillow report doesn’t reflect these relocations, in large part because many in-state movers don’t hire moving companies like North American Van Lines.

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Zillow reveals how fast home values are rising in Dallas-Fort Worth

Hot Homes

The spring selling season is underway, and those looking to purchase a home in Dallas-Fort Worth should expect to pay a premium — regardless of price point — Zillow says.

A new study from the real estate authority shows that the annual appreciation of DFW home values at all price tiers was at least 8 percent in February 2021, with home values in the most affordable tier growing the fastest.

In the Dallas-Fort Worth metro, the lowest tier of home values grew 9.5 percent year-over-year, to a typical home price of $194,484, Zillow says. That rate slightly outpaced home values in the middle tier, which were up 8.9 percent to $278,259, and home values in the top tier, which grew 8.6 percent to $445,949.

In most major U.S. metro areas, "homes in the entry-level segment of the market most likely to be sought by first-time and/or lower-income home buyers have also grown the most in value over the past year," Zillow says.

Two other Texas metros follow the national trend:

  • In the San Antonio metro, the lowest tier appreciated at a rate of 7.9 percent, to a typical home value of $153,904, compared to 7.3 percent for the top tier.
  • In the Houston metro area, the lowest tier saw a 9.3 percent increase, to $166,556, compared to a 7.4 percent increase for the top tier.

In Austin, however, home values in the most expensive tier grew the fastest, up 14.9 percent to $666,034. At the same time, the lowest tier of home values in the Austin metro area grew 14 percent year-over-year.

“Demand for homes in the Dallas, Houston, and Austin metros is largely uniform across price tiers," notes Zillow economist Arpita Chakravorty. "While home values in the most affordable segment are growing the fastest in Dallas and Houston, the mid- and higher-valued homes are quickly catching up due to strong demand. The spread between appreciation rates in Austin is tightening as well, indicating extreme competition across all price tiers."

Whether you're in the market right now or planning to house hunt in the future, don't expect things to slow down.

Looking ahead, Zillow expects the typical home value in each of the Texas markets mentioned to grow by at least 10 percent by next February. For Dallas-Fort Worth, Zillow predicts a 12.6 percent price increase — the largest in the state.

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New Zillow study shows how fast homes are selling in Dallas-Fort Worth

Red-Hot Real Estate

Have the stay-at-home orders this spring convinced you it's time to buy a house, or upgrade to a bigger one? You're not alone — a new report from Zillow shows that Dallas-Fort Worth homes are flying off the market at their fastest pace in more than two years.

For the week ending June 13, it only took a median of 28 days for a DFW home to go from "available" to "pending." That's one fewer day than the same time last year, as well as six fewer from the same week in May 2020. To show just how quickly the market is moving, it's even two days less than the week before (ending June 6, 2020).

Inventory is still low thanks to the COVID-19 pandemic, with buyers in May finding themselves competing over the smallest pool of inventory on record for that month in years. But as "the new normal" begins to take hold, it seems that buyers are now eager to make up for lost time with speedy offers.

Surprisingly, DFW is lagging behind the rest of the country when it comes to red-hot real estate.

In mid-June, the typical home sold in the U.S. had an offer accepted 22 days after it was listed. That's as fast as homes have sold since early June 2018, when they typically sold in 21 days. Even at the slowest point of the spring — in late May — that national number only climbed to 31 days, just six days slower than late May last year.

"Buyers shopping today might expect to be welcomed by desperate sellers, but they'll instead discover houses selling like hotcakes in the speediest market in recent memory," says Zillow economist Jeff Tucker. "The market did slow down in April, but anyone shopping this summer needs to be prepared to keep up with the lightning-quick pace of sales today.

"The question is whether the tempo will slow after buyers finish playing catch-up from planned spring moves, or if this fast-paced market will stay hot thanks to continued low interest rates and buyers scrambling over record-low summer inventory."

Home sales are still moving relatively quickly around the Lone Star State, especially in Austin. Homes there are moving within 12 days a change of three days from 2019, three days from May, and one day from the previous week.

In San Antonio, it took a median 32 days for listings to move to pending. That's down two days from last year, down four days from last month, and no change from the week before.

Houston homes are only available for 26 days — three days fewer than last year, nine days fewer from last month, and four days fewer than even the week ending June 6.

Homes are selling the fastest — in only five days — in Columbus, Ohio. Cincinnati, Ohio (six days); Kansas City, Missouri (six days); Seattle (seven days), and Indianapolis (seven days) are just behind. Pittsburgh has seen the most dramatic acceleration of late, with sellers typically accepting an offer 17 days sooner than at this time last year and 40 days sooner than a month ago.

The slowest market by some margin is New York, where homes are typically spending 70 days on the market before an offer is accepted, more than three weeks longer than at this time last year. Miami (55 days) and Atlanta (38 days) are the next slowest.

Zillow points out that more homes are coming onto the market — new listings are up 14 percent nationally month-over-month — showing that sellers appear to be gaining confidence in buyer demand. Inventory remains incredibly tight and sales are happening quickly, so buyers should be prepared to move fast when they find a home they're interested in.

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Dallas-Fort Worth home listings dip thanks to COVID-19

Coronavirus impact

We're coming up on the best time to list your Dallas-Fort Worth house, but thanks to COVID-19, the real estate landscape looks pretty different this year. Zillow reports that 3-D home tours are up 408 percent from February, and newly listed homes nationwide were down 27.1 percent from a year ago in the first week of April.

But it's not quite as bad in Dallas-Fort Worth. While the rest of the U.S. is seeing a 19 percent drop in new listings since March 1, 2020, DFW only decreased 18 percent.

Active listings here are down 1.1 percent since the same period. Total U.S. inventory, meanwhile, has only grown by 2.5 percent since March 1, which likely correlates to homes sitting on the market for longer.

"It is clear that many would-be home sellers are adopting a wait-and-see approach as uncertainty continues to rule," says Skylar Olsen, senior principal economist at Zillow. "Our understanding of U.S. economic conditions is changing weekly, if not daily, and early unemployment figures are striking, so it's understandable that some are hesitant to put their home on the market.

"It is possible that this year's busy home shopping season is pushed into winter as some opt to hang back, but activity continues from those who need to buy or sell for a job move or another major life event. What's not likely is that the bulk of potential home sellers and buyers simply throw up their hands and pull back from the market entirely."

By March 1, 2020, new listings in DFW were up 25.2 percent from the same time a year ago. Fast-forward just a month, and that number was down 17.2 percent. The outlook in DFW is definitely brighter than what's happening nationwide: nationwide listings were up 17.3 percent on March 1 and down a significant 27.1 percent by April 5.

Elsewhere in Texas, Houston has seen a 1.9 percent increase in new listings from March to April of this year, but listings are down 8.7 percent from April 2019.

San Antonio is an outlier, remaining neutral at zero percent change in new listings from March 1-April 5, 2020, and only down 11.8 percent from April 2019.

But Austin is truly bucking the trend, with new listings up 12.8 percent in the past month, for a year-over-year increase of 13.5 percent.

The greatest slowdowns in new listings since March 1 were seen in Detroit (down 61.8 percent), Pittsburgh (down 55.5 percent), and New York (down 49.1 percent). But new listings were actually up or flat in 12 of the 35 largest U.S. metros, led by Phoenix (up 18.3 percent), Atlanta (up 15.6 percent), Sacramento (up 13.7 percent), and Minneapolis-St. Paul (up 13.7 percent).

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CultureMap Emails are Awesome

'Yellowstone' stars to greet fans at Fort Worth Stock Show & Rodeo

Yellowstone news

Yellowstone fans, get your comfy shoes ready - there'll be a long line for this one. Cole Hauser a.k.a. "Rip Wheeler" on Yellowstone, and Taylor Sheridan, the show's co-creator, executive producer, and director of the series, will meet fans and sign autographs at the Fort Worth Stock Show & Rodeo.

The event will take place from 4:30-6:30 pm only on Friday, February 3. Location is the 6666 Ranch booth near the south end of Aisle 700 in the Amon G. Carter, Jr. Exhibits Hall.

According to a February 2 announcement from FWSSR, "fans will have the opportunity to snag an autograph as well as purchase some distinctive Yellowstone and 6666 Ranch merchandise while also enjoying all the features the Stock Show offers."

The event is free to attend (with paid Stock Show admission) and open to the public.

It's the second year in a row for Hauser to appear at FWSSR; in 2022, he and fellow cast mates drew huge crowds.

Sheridan, a Paschal High School graduate, is no stranger to Fort Worth; he lives in a ranch near Weatherford and filmed 1883, the prequel to Yellowstone, in and around Fort Worth. Currently, another spinoff, 1883: The Bass Reeves Story, is filming in North Texas.

The Fort Worth Stock Show & Rodeo is winding up its 2023 run on Saturday, February 4.

3 Lubbock luminaries on what ignites the Hub City

Faces and Places

In Lubbock, Texas, where locals have been pouring their livelihood into both the city and their craft, the community has created a Texas experience like no other. What sets apart a destination from others is the welcoming faces who meet travelers with open doors and a willingness to share the West Texas way of life with all who wander through.

CultureMap recently checked in with three Lubbock luminaries to learn what drew them to the city, what dreams they're making come true, and how visitors can take part in the magic.

Matt Bostick, sommelier and hospitality director of Llano Estacado Winery
Though his roots are in Texas, Matt Bostick found his passion for wine in Italy. While studying hospitality in Florence in 2011, he met Parisian sommelier Quinton Paillard, who encouraged his budding love of vino and set Bostick on the path toward becoming a sommelier himself.

After earning his degree in restaurant, hotel, and institutional management from Texas Tech University in 2012, Bostick joined Jackson Family Estates in Los Angeles. From there, he further honed his expertise as the lead sommelier for Pizzeria Mozza and Osteria Mozza, under the mentorship of Sarah Clarke A few years later, Bostick co-founded a restaurant called Baldoria and even developed a line of ready-to-drink cocktails with his business partner, David King.

"When David and I decided to create B&K Cocktail Company, our business venture brought us back to Texas," Bostick says. "With my family residing in Lubbock, it was a natural choice to settle here. Lubbock holds significant personal and professional values for me. It's my hometown, where I was born and raised, and where most of my family continues to live and contribute to this community."

Today, Bostick is the events director and sommelier at Llano Estacado Winery, Texas’ second oldest winery. Bostick guides visitors through a sensory journey, introducing them to the complexities of different wines, regions, and vintages while offering insights into history, production techniques, and the unique characteristics of each varietal.

"I help individuals identify tasting notes, appreciate nuances, and even recommend food pairings that enhance the overall culinary experience," he says.

Grape Day on October 21 is an ideal time to visit the winery to see Bostick in action. To celebrate the end of the harvest, which spans late July to early October, Llano features captivating self-guided tours, diverse art booths, delicious offerings from the finest local vendors, exciting games for kids, and a mesmerizing lineup of live music on the Lubbock Listening Room stage.

Admission is free, but for $35 attendees will receive a commemorative Grape Day wine glass along with two tickets redeemable for a glass of wine. Pre-sale drink tickets will also be available for purchase in a bundle of three tickets for $15 (otherwise each ticket is $8 at the event).

"Grape Day holds immense significance to me. It's a celebration that represents the culmination of hard work and a sense of community," Bostick says. "Llano Estacado Winery has not only been a pioneer in the Texas wine industry but has also contributed to our local community's growth. Events like this shine a light on the rich heritage and traditions of winemaking, connecting our community to a broader narrative of craftsmanship and appreciation for the finer things in life."

Ian Timmons, pitmaster and third-generation owner of Tom & Bingo’s BBQ
It's been called a West Texas legend since 1952, and as soon as you step inside Tom & Bingo's BBQ, you'll understand why. This old-school barbecue joint — and Lubbock’s oldest restaurant — is packed with nostalgia and dishes out authentic barbecue that would make original owners Tom and Bettye Clanton proud, and current owner Ian Timmons intends to keep it that way.

While studying at Texas Tech, Timmons worked under Dwayne Clanton (Tom and Bettye's son, who gained ownership of the restaurant in 1980) and earned hands-on experience as a pitmaster. Upon graduation, he moved to Denver with his wife, Kristi, where he worked at Denver Biscuit Company.

"I’ve always worked in restaurants," says Timmons. "From my first job at Dairy Queen to a local restaurant called Orlando’s, where I was a server and got fired for making pizzas during my shift."

Timmons' wife also happens to be Dwayne and Liz Clanton's daughter, making him the obvious choice to carry on the legacy when the couple was ready to retire in 2017.

Now, Timmons pays homage to Tom & Bingo's 70-year legacy by smoking modern bark-on-brisket, his own coarsely ground smoked beef sausage, and pork spare ribs on the original brick pits the predecessors used for decades. He's also expanded the menu to include scratch-made potato salad and slaw, but one item remains a constant since the early days of the restaurant: the steak burger.

"This fall we are switching from our legendary brick pits to a new Centex offset smoker, so it’s back to square one for us," reveals Timmons. "This fall will be a learning season for us! But we are excited to see what a new smoker can do for us."

You can also catch the eatery's new food truck out and about and look forward to more biscuit collaborations with Monomyth Coffee (inspired by Timmons' time in Denver, of course). "We'll also hopefully open a Biscuit Club location to help grow the breakfast scene in Lubbock," Timmons hints.

But perhaps the tastiest way to experience Tom & Bingo's, besides visiting the restaurant itself, is by sampling its goods at the Texas Monthly BBQ Fest in November. Held in Lockhart, November 4-5, the event helps raise funds for Feeding Texas and a network of food banks across the state.

Yung Cry Baby, aka Aaliyah Limon, resident artist with Charles Adams Studio Project
Full-time musician and vocalist Aaliyah Limon was born and raised in Lubbock, but when she was younger, she didn't feel the city had a place for her yet. After graduation, the aspiring talent took off to explore both coasts, working as a model and artist, but after a while realized she wasn’t as fulfilled as she had hoped and missed her family.

"I needed a break from my fast-paced lifestyle," she says. "I came back home to be with family, take a step back, and reassess what I really wanted to do with my life. When I moved back, my music took off much faster than I ever anticipated."

Now Limon is professionally known as Yung Cry Baby and serves as a resident artist with the Charles Adams Studio Project, a nonprofit that supports working artists in Lubbock.

"Because I'm passionate about it and motivated by the people who resonate with what I sing about, I've kind of kept with the momentum of things," Limon says. "I'm excited about what I do, and I love helping people heal through my music. Even if it only helps a little, it gives me a lot of joy knowing I can maybe help someone not feel alone."

Fans can see Yung Cry Baby perform not only at the karaoke bar she hosts at, but also at First Friday Art Trail, a monthly arts festival located in downtown Lubbock with a mission to bring together collectors, artists, and community friends for an evening of art, music, and fun. Participants are ever-changing, offering something for everyone.

"I love doing community-based things, especially when it comes to art," Limon says. "First Friday is always a blast for me."

Yung Cry Baby is currently working on her first full album, following the earlier release of her EP. Follow her on social media for updates.

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Experience the people and places of Lubbock yourself by planning your next vacation here.

Llano Estacado Winery wine glass

Photo courtesy of Visit Lubbock

Matt Bostick helps visitors appreciate the wine at Llano Estacado Winery.

Texas Christian University ranks as No. 6 school in Texas for 2024 by U.S. News

Top Texas schools

Texas Christian University has achieved a high ranking for its high-quality educational experiences this year. The home of the Horned Frogs earned a top-10 spot on U.S. News and World Report's just-released list of the Best Colleges in Texas for 2024.

TCU claimed the No. 6 spot in Texas, and ranked No. 98 nationally. The private institution had an undergraduate enrollment of more than 10,500 students in fall 2022. The school, which costs $57,220 in tuition and fees each year, ranks No. 92 for "Best Value Schools" by U.S. News.

In April, TCU's Neeley School of Business ranked No. 6 in U.S. News' ranking of the best graduate programs in Texas. TCU business graduates additionally make the ninth-highest earnings in the nation within the four years after their graduation.

TCU actually fared similarly in Niche'slist of top Texas schools, in which it ranked No. 6 statewide.

U.S. News' profile of TCU says the university finds pride in its rich campus culture that encourages students to participate in different organizations and activities. It's proximity to downtown Fort Worth is also a major draw.

"Volunteer activities are a particularly big draw for students, and the school’s Center for Community Involvement & Service-Learning coordinates excursions like service trips over spring break," the site says. "Students can check out live bull riding shows at Billy Bob’s, a restaurant that is billed as the world’s largest honky-tonk, or catch a rodeo at the Cowtown Coliseum. Dallas is about 35 miles away."

TCU's cross-Metroplex rival, Southern Methodist University, ranked No. 4 in Texas and No. 89 nationally.

Just behind TCU is Richardson's University of Texas at Dallas, which placed No. 7 in the Texas rankings and No. 115 nationally. With a total undergraduate enrollment of over 21,600 students in fall 2022, the university values itself as a top-tier research institution.

"The Institute for Innovation and Entrepreneurship utilizes world-class, academic education, industry-leading experiential training, venture mentorship and advisory support to support the launch of new businesses," the UT Dallas website says.

In fact, the U.S. Department of Defense recently announced it will work alongside UT Dallas to develop a $30 million energy storage systems campus in a new initiative to improve battery technology.

"The project will accelerate transition and scaling of next generation batteries, while reducing dependence on scarce critical materials," the release said.

UTD ranked No. 14 in the recent Niche list of best Texas colleges.

U.S. News' top 10 best colleges in Texas in 2024 are:

  • No. 1 – Rice University, Houston
  • No. 2 – University of Texas at Austin
  • No. 3 – Texas A&M University, College Station
  • No. 4 – Southern Methodist University, Dallas
  • No. 5 – Baylor University, Waco
  • No. 6 – Texas Christian University, Fort Worth
  • No. 7 – The University of Texas at Dallas, Richardson
  • No. 8 – University of Houston
  • No. 9 – Texas Tech University, Lubbock
  • No. 10 – University of St. Thomas, Houston

The full rankings can be found on usnews.com.