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Texas

Texas is the second most populous state in the United States, expands an astonishing 259,000 square miles, and is home to a growing population of more than 26 million people. Texas boasts a massive economy, with a gross state product equal to that of Canada and India, which are the world's 11th and 12th economies, respectively. The state of Texas is fiercely independent, and is rich in oil, natural gas, and is the home to 57 Fortune 500 companies and it's principal industries are agriculture, petrochemicals, energy, computers and electronics, aerospace, and biomedical sciences.

General Market Conditions of Texas Real Estate

The median home price in the state of Texas is $190,000. The average price rose 10.44 percent in 2013 from the prior year to $235,075, according to the Texas Association of Realtors. Home prices across the state have grown between 2.3 percent and 7 percent, in 2013, with Austin, the capital city, being the hottest real estate market in the Lone Star State.

Geography

Because of its geographical location, the state of Texas, like California, has a diverse landscape. In the south, the coastline runs along the Gulf of Mexico, while further north in Austin lies hill country. The state also has many square miles of prairie land, and in the west, the state shares the Guadalupe Mountains with New Mexico. Central Texas is home to the state's Great Plains, and Interior Lowlands region consists of gently rolling to hilly forested land.

Climate

The sheer size of the state of Texas means that it has multiple climate zones, which in turn, means weather varies substantially from one part of the state to another. The Texas panhandle has the coldest winters, while the gulf coast has the mildest. Snow falls each year in the north, but is very rare in the south. Temperatures during the summer can reach above 100F, with overnight lows in the high 70s to mid 80s.

Demographics

The population of Texas is quite diverse, with nearly 45 percent white, 38 percent Hispanic or Latino, 12 percent black, 3.8 percent Asian, and 0.7 percent Native American. Those who are part of some other race account for 10.5 percent, and those from two or more races make up 2.7 percent, according to the United States census.

Main Attractions

Texas has many popular destinations within its borders, including the Houston Zoo, the Dallas Aquarium, Moody Gardens, and the Fort Worth Zoo. However, the top 10 attractions in the state of Texas are as follows: Paseo del Rio also called Riverwalk, the Alamo, SeaWorld in San Antonio, Padre Island National Seashore, State Capitol, Houston Space Center, Six Flags Over Texas, Texas State Aquarium, South Padre Island, and, the San Marcos Outlet Malls.

Economy

The state of Texas has no income tax, and property taxes are some of the lowest in the nation. It has a gross state product in excess of $1.2 trillion. Site Selection Magazine ranked Texas as the most business-friendly state in the nation in a 2010 survey. Texas enjoys an ever growing economy, not only because it is rich in natural resources and its vast agricultural commerce, but because it is home to an expanding technology sector.