AUSTIN, Texas, Sept. 3, 2021 /PRNewswire/ -- International homebuyers purchased nearly 10,000 homes in Texas from April 2020 to March 2021, representing $4.9 billion in sales, according to the Texas International Homebuyers Report released today by Texas Realtors.
The Lone Star State ranked third in the nation, behind Florida and California, for homes sold to international buyers. Texas accounted for 9% of all homes purchased by international homebuyers in the United States, with 9,630 home sales out of the 107,000 nationwide. 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.
On the commercial side of international real estate transactions, Texas was tied with Florida as the second-most popular destination for buyers who work with Realtors, according to the 2021 Commercial Real Estate International Business Trends report from the National Association of Realtors.
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 Texas Realtor to help navigate the local market and find the best property for their desires."
About the Texas International Homebuyers Report
The Texas International Homebuyers Report is based on survey data from the 2021 International Transactions in U.S. Residential Real Estate by the National Association of REALTORS® and the 2021 edition of the Commercial Real Estate International Business Trends. Texas REALTORS® distributes insights about the Texas housing market each month, including quarterly market statistics, trends among homebuyers and sellers, luxury home sales, condominium sales and more.
About Texas REALTORS®
With more than 140,000 members, Texas REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We are the advocates for REALTORS® and private property rights in Texas. Visit texasrealestate.com to learn more.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/texas-is-third-most-popular-state-for-international-homebuyers-301368877.html
SOURCE Texas Realtors