Texas real estate most valuable in the country

During the course of 2011, the overall value of Texas real estate totaled $1.6 trillion.Residential real estate in the Lone Star State is considered some of the most valuable in the country. Local residents should consider purchasing a piece of Houston real estate to capitalize on this unique opportunity.During the course of 2011, the overall value of Texas real estate totaled $1.6 trillion, according to a report from the Real Estate Center at Texas A&M University. This was roughly $65,432 per household in the state, up from $35,055 in 1997.”Real estate wealth comprises single-family residences, multifamily residences, commercial properties, industrial properties, mineral real estate, utility company properties, rural acreage and vacant lots,” said Real Estate Center research economist Ali Anari.The majority of real estate wealth in the state is tied to single-family homes, totaling approximately $945.1 billion, the report said.The strong housing market also goes a long way in creating employment opportunities. According to the report, every $1 million in Texas real estate provides 5.2 real estate-oriented jobs and five positions in related industries. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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