Houston’s improving biotech sector could lead to better real estate sales

The medical industry in Houston is an attractive point for potential homebuyers.A recent report from The Houston Chronicle explained that the region could soon become a hub for biotechnology.The article states that thousands of patients often travel from around the world to Houston to receive medical care. The region is home to the Texas Medical Center, which is the largest medical complex in the world. In addition, several major hospitals and universities are located close by, which has allowed the region to become a center for medical research.Overall, the report explains, the region receives more than $1.8 billion annually for academic research and development. With local universities and 150 life science companies, the region is set to become a leader in the biotech sector.With more significant improvement, the region's job sector could experience increased gains, which in turn, could boost the local real estate market.As more workers move to the region for biotech research, or other medical-related reasons, more potential homeowners could come to market.Overall, the average price of Houston properties was $220,210, while the median price was $157,900, meaning that homes are still quite affordable for those looking to move.Courtesy of 2M Realty News?

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