The Texas economy got a $10.89 billion boost from international homebuyers between April 2017 and March 2018, according to the Texas International Homebuyers Report released by the Texas Association of REALTORS®.
Texas accounted for 24,012 (9%) of 266,800 homes purchased by international buyers nationwide between April 2017 and March 2018, ranking third behind Florida and California, respectively, for international sales.
“International home sales activity continues to be one of the strongest sectors in Texas real estate, spurring strong growth in the Texas economy,” said Kaki Lybbert, chairman of the Texas Association of REALTORS®. “Despite the slight drop in international homebuyers compared to last year’s reporting period, Texas still remains an international hub and top destination for people from across the world to live, work, and conduct business.”
Texas had the highest volume of homebuyers from Mexico of any state during the report period, with 38% of buyers from Mexico purchasing a home in Texas. The state was also a top destination for homebuyers from China (7%), India (6%), the United Kingdom (5%), and Canada (3%).