Real estate accounted for 16.2% of the gross state product in Texas in 2020, according to the National Association of REALTORS®. That’s $283.5 billion. A typical home sale created a total economic impact of $89,600 through new home construction (51.3%), income generated from real estate industries (27.7%), the multiplier of housing related expenditures (15.8%), and expenditures related to the home purchase (5.2%).