Foreign Home Buyers Add $11 billion To Texas Economy
It’s common knowledge that everyone wants to buy their own little piece of Texas right now, particularly international homebuyers. Just take a look at the 2014 Texas International Homebuyers Report released this month by the Texas Association of REALTORS®. Take a looks at some of the highlights below. We have already seen international buyers making significant impacts throughout the Houston Area housing market, this trend is very likely continue into the future.
Texas constituted 12% ($11.06 billion) of international home sales in the United States between March 2013 to March 2014. This is a 3% increase from the previous period and the highest level in the past five years.
Texas ranked third in the U.S. for total number of international home sales by state, after Florida and California.
More than half of all international home buyers in Texas originate from Latin America or the Caribbean.
By a significant margin, the majority of U.S. home purchases by Mexican buyers are in Texas, with 65% of purchases occurring in the Lone Star State.
If you are an international buyer who is interested in Texas real estate don’t hesitate to contact us. We have Certified International Property Specialists (CIPS) who are specifically trained on how to handle transactions with international aspects.