San Antonio’s real estate market driving local economy

​​​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.