September 27, 2019
Much has been written about the impact of in-migration and its impact on the Texas economy. And, according to the “Texas International Homebuying Report,” recently released by Texas Realtors, international homebuying activity added $7.8 billion to the economy of the Lone Star State, from April 2018-March 2019.
Overall, Texas ranked third in the nation for homes sold to international buyers (Florida and California ranked first and second, respectively). And, the report indicated that Texas homes were especially popular among Mexicans. Of all home buyers from Mexico purchasing a home in the United States, 28% bought in Texas. Additionally, of all homebuyers from India buying a home in America, 13% invested in Texas housing.
Tray Bates of Texas Realtors indicated that Texas economic fundamentals are driving the international investors. “Specifically, we’re seeing international investors look to Texas for large-scale investments in subdivisions and master-planned communities,” he added.
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