Texas remains a hot spot for international homebuyers, shows new report
International homebuyers seeking an abode in the U.S. still have their sights set on Texas, according to a new report.
The Texas International Homebuyers Report, released this month by Texas Realtors, shows that Texas remains the third hottest U.S. destination for international homebuyers.
The Lone Star State comes in behind Florida and California, just like in years past.
From April 2021-March 2022, 7,888 Texas homes were purchased by buyers from outside the U.S., accounting for 8 percent of the country's international home purchases. No. 1 Florida, meanwhile, accounted for 24 percent of purchases, with No. 2 California at 11 percent.
In total, 98,600 U.S. homes were sold to international buyers during the time period, to the tune of $59 billion. This year's report does not include total sales dollars for the Texas purchases.
“Texas remains one of the most desirable destinations for people looking to purchase a home in the United States,” said Russell Berry, chairman of Texas Realtors, in a release.
“The region of origin for homebuyers choosing Texas had a noticeable swing this reporting period. Historically, the largest number of homebuyers purchasing in Texas from outside of the United States are from the Latin America and Caribbean region. While that is still true, European homebuyers nearly closed the gap this past year.”
Thirty-one percent of Texas' international buyers were from Latin America/Caribbean, with 27 percent from Europe, 21 percent from Asia/Oceana, and 11 percent from Africa.
Texas also holds onto its status as a hot market for international commercial real estate transactions. According to the 2022 Commercial Real Estate International Business Trends from the National Association of Realtors, Texas accounted for 14 percent of international commercial buyers in 2021, second only to Florida's 22 percent.