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San Antonio's real estate market driving local economySan Antonio's real estate market driving local economyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=132692016-05-23T05:00:00Z2016-05-23T14:00:00Z

​​​SAN ANTONIO - San Antonio's employment growth continues to accelerate, and the city's strengthening real estate market doesn't appear to be slowing down anytime soon—put the two metrics together, and real estate emerges as one of the leading drivers in the local economy.

Since its recovery from the recession, real estate development in San Antonio has generated $32.5 billion in annual economic activity.

According to the Responsible Growth Alliance, real estate's contribution to the city's economy has swelled by nearly 38 percent since 2012.

Along with its increasing activity, the real estate market's employment figures, labor income, and local tax revenue have all jumped over the past four years. 

In 2012, the market recorded 120,000 jobs and $5.2 billion in labor income. Now posting 3.6 percent and 13.5 percent increases respectively. Those figures have jumped to 124,300 jobs and $5.9 billion in labor income.

RGA President Scott Farrimond said that in addition to jobs, the real estate industry provides more than $205 million in tax revenue, and now accounts for nearly 13 percent of the area's total economic output.

It is expected that real estate will continue to increase its contribution to the San Antonio economy.

San Antonio Business Journal
San Antonio-New Braunfels
Economy
http://www.bizjournals.com/sanantonio/news/2016/05/20/how-much-san-antonios-real-estate-market-is.htmlRead more at {Source}

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