Job creation large factor in Texas real estate

According to a recent article in the Victoria Advocate, the continued success of Texas' job sector is a major reason for the state's healthy real estate market.

In a recent CNBC survey, Texas was ranked second behind Virginia as the best state for business. Since 2007, these two states have traded the top ranking. Overall, 51 of the country's Fortune 500 companies are located in Texas. Furthermore, 237,000 of the net jobs created in the U.S. since the beginning of 2009 are in Texas, which is roughly 50 percent of the total.

In addition, a recent U.S. Bureau and Labor Statistics report revealed that Texas has added 732,000 private sector positions during the last 10 years, while no other state has created more than 100,000. In fact, only 19 other states have created new jobs at all.

Thus, these workforce trends have made Texas a hub for prospective employees. As a result, the state's real estate market has experienced gains.

In regions of the state adding the most jobs, such as Houston, real estate transactions have increased as more positions are added. A recent Metrostudy report revealed that Houston has added more than 50,000 jobs since last February.

Courtesy of 2M Realty News