International homebuyers purchased nearly 10,000 homes in Texas from April 2020 to March 2021, representing $4.9 billion in sales, according to the 2021 edition of the Texas International Homebuyers Report.
Texas ranked third in the nation, behind Florida and California, for homes sold to international buyers and accounted for 9% of all homes purchased by international homebuyers in the United States, with 9,630 home sales out of 107,000. International home purchases decreased 31% in the U.S. compared to last year’s report.
“The pandemic had a significant impact on the number of foreign homebuyers over the last year,” said Marvin Jolly, chairman of Texas REALTORS®. “Even so, Texas remained one of the top destinations for people around the world to purchase a house here. International homebuyers continue to choose Texas because they recognize the strength of our economy, abundance of investment opportunities, and attractive cost of living.”
Forty-two percent of international homebuyers in Texas came from the Latin America/Caribbean region, and 30% originated from the Asian/Oceania region. Texas was the top destination for international homebuyers from Mexico. Of all homebuyers from Mexico purchasing a home in the U.S., 29% bought a home in Texas. Among buyers from India, 11% chose Texas.
Jolly concluded, “The demand for Texas real estate, commercial or residential, extends well beyond our nation. Whether someone is moving from down the street, another state, or from halfway across the globe, all homebuyers can benefit by working with a REALTOR® to help navigate the local market and find the best property for their desires.”