Texas tops the U.S. for real estate development spending and jobs

Texas topped the nation in real estate development activity in 2018, according to a report from NAIOP, the Commercial Real Estate Development Association.

Texas was ahead of both New York state and California in the ranking of real estate development impact in each state for the second year in a row.

Approximately $26 billion was in direct spending on real estate projects, and the Texas building sector contributed more than $62 billion last year to the state's economy.

Commercial property developments created and supported 8.3 million U.S. jobs in 2018 and resulted in salaries and wages of $325.9 bil