Of all the international purchases in America, 12 percent of buyers from abroad purchase in Texas, according to the 2014 Texas International Homebuyer Report from the Texas Association of Realtors. Those buyers accounted for a total of $11.06 billion in sales between March 2013 and March 2014, the report says, making the great state the third most popular market for international buyers.
“The Texas housing market is not only strong in sales volume, but in its diversity,” said TAR chairman Dan Hatfield. “The demand for Texas homes stretches around the world. International homebuyers increasingly view Texas homes as a good investment, and as our economy has grown, so has the number of international homebuyers in our state.”
So, where are these international homebuyers from? Well, more than half hail from Latin America or the Caribbean, many of them from Mexico. In fact, more than 65 percent of American homes purchased by Mexican homebuyers were in the Lone Star State. Houston is the most popular are for international buyers, with Dallas/Fort Worth coming in second.
Texas is an increasingly diverse state, with the third-largest immigrant population in the U.S. and the seventh-largest population of foreign-born residents. Six of America’s top 50 metro areas for immigrants are in Texas.
“As international home sales continue to grow in Texas, it’s important for Texas Realtors to work closely with members of international real estate associations to ensure that the needs of this growing segment of homebuyers are met,” Hatfield said. “The Texas Association of Realtors is grateful for its growing partnerships with AMPI in Mexico and other real estate associations around the globe.”
If you want to know more about these trends, AMPI, Mexico’s national real estate association, will join the TAR in San Antonio during the Texas Realtors Conference from Sept. 5-8. Find out more about the conference and AMPI at the Texas Association of Realtors website.