September 01, 2016 — Austin
Texas home sales purchased by international homebuyers added more than $10 billion to the Texas economy from April 2015 and March 2016, according to the Texas International Homebuyers Report released today by the Texas REALTORS®.
“Over the last several years, Texas has become increasingly popular among international homebuyers from all parts of the globe for relocations, investment properties, and vacation homes,” said Leslie Rouda Smith, chairman of the Texas REALTORS® . “In addition to our state’s strong economy and job growth, Texas’s friendly and welcoming culture is part of what make our state a great place to live, work, and do business.”
Homes purchased by international buyers accounted for 7% (214,885 home sales) of all U.S. home sales and 6.75% ($102.6 billion) of total U.S. home sales dollar volume between April 2015 and March 2016. This is a 3% increase in international home sales but a 1.25% decrease in international home sales dollar volume from the same time period last year. Approximately 10%, or 21,488 home sales and $10.2 billion, of this activity occurred in Texas—a 2% increase from the same time frame last year.
From April 2015 to March 2016, Texas drew nearly equal percentages of homebuyers from both Latin America (including Mexico) and Asia/Oceania (including China and India). Thirty-four percent of international homebuyers were from Asia/Oceania, while 36% of homebuyers were from Latin American. European homebuyers comprised 12% of international home purchases, followed by African buyers at 8% and Canadian buyers at 4%.
Texas had the highest volume of homebuyers from India of any state from April 2015 to March 2016, with one in five (20%) Indian homebuyers purchasing a home in the U.S. purchasing a home in Texas. Texas also continued to have the highest share of homebuyers from Mexico, with more than one in three (35%) of international homebuyers from Mexico purchasing a home in Texas.
Chairman Smith concluded, “Texas is now home to the second-largest foreign-born population size in the nation and has the seventh-highest percentage of foreign-born residents compared to statewide population. As more homebuyers from around America and around the world begin to eye Texas as a relocation destination, these homebuyers can count on Texas REALTORS® to help them find the right home for them and their families.”