Surging oil and gas industry is helping drive the Texas real estate market. Texas has been a major
beneficiary of increased oilfield employment, and that continues to have a positive impact on many of the state’s real estate markets.
Of course, it is no secret that the oil and gas sector has played an important role in the U.S. economy during the past few years.
A recent PricewaterhouseCoopers report estimates the oil and gas industry supports about 2 million direct and indirect Texas jobs that power 24 percent of the state’s economy. No doubt the results are that Texas residential and commercial real estate markets are largely outperforming those in the rest of the country thanks to the oil and gas industry and the huge impact from the Permian Basin and the Eagleford Shale.