David Gibbs, Hahn Public, 512-826-0754

International Homebuyers Purchased More than $4 Billion in Residential Real Estate in Texas

Report sheds light on international homebuyer behavior in the state.

September 06, 2023 — Austin

A recent report released by Texas REALTORS® revealed that international homebuyers spent $4.3 billion on nearly 10,000 home purchases in Texas from April 2022 to March 2023. This activity represents 2.8% of the total number of homes sold and 3.6% of total dollar volume of residential sales.

While the median home price for international buyers, at $320,800, is lower than the overall Texas median of $342,000, the average purchase price for international buyers was $446,100. This suggests that while the majority of international buyers purchased homes priced close to or below the Texas median, a subset of international buyers bought significantly more expensive homes, driving up the average and total dollar volume.

Nearly half (49%) of international buyers opted for all-cash transactions. This indicates that many of those buyers had a desire and means to purchase property without obtaining a mortgage. The report also revealed that a significant portion (61%) of international buyers already resided in the U.S. on visas.

“Texas has long been one of the most popular states for international buyers,” said Marcus Phipps, 2023 Chairman of the Texas REALTORS®. “Our strong economy, diverse population, and high quality of life make the Lone Star State an attractive destination.”

According to a National Association of REALTORS® nationwide report of international homebuying activity, 11.7% of all international buyers of residential property in the U.S. purchased a home in Texas, behind only Florida (23%) and California (12.2%).

Mexico led significantly in terms of country of origin for foreign homebuyers in Texas, accounting for 41% of purchases. The other top countries were China (8%), India (7%), Nigeria (5%) and Venezuela (5%), showing a diverse international interest in the Texas real estate market.

About Texas REALTORS®

With more than 150,000 members, Texas REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We are the advocate for REALTORS® and private property rights in Texas.

About the Texas International Homebuyers Report

The Texas International Homebuyers Report is based on survey data from the Profile of International Home Buying Activity and the Business Data for Engaging in International Real Estate Transactions in Texas studies by the National Association of REALTORS®, the American Community Survey by the U.S. Census Bureau, and the Yearbook of Immigration Statistics by the U.S. Office of Immigration Statistics. Texas REALTORS® distributes insights about the Texas housing market each month, including quarterly market statistics, trends among homebuyers and sellers, luxury home sales, condominium sales, and more.