This segment of homebuyers contributed more than $11 billion to the Texas economy
09/02/2014 | Author: Editorial Staff
From March 2013 to March 2014, Texas accounted for $11.06 billion in home sales to international buyers, according to the 2014 Texas International Homebuyers Report released Sept. 2 by the Texas Association of REALTORS®. This is 12% of the $92.2 billion total sales volume from international buyers across the United States.
Texas is the third-largest state for international home sales, and ranks seventh in the United States for percentage of foreign-born residents among the statewide population. Here are a few other highlights from the report:
- Fifty-nine percent of all international buyers in the state are from Latin America or the Caribbean.
- Naturalized U.S. citizens in Texas are almost 12% more likely to own a home than their native counterparts.
- Texas homeownership rates increase significantly the longer someone lives in the United States. Those who entered the U.S. before 1990 have a 67.5% rate of homeownership, while more recent immigrants (those who've entered the U.S. since 2010) have a 13.3% homeownership rate.
Download the full report to learn more about Texas’s role as a hub for migration to the U.S., Texas’s top designated market areas (DMAs) for immigration, and more.