A recent international homebuyers report by Texas Realtors found that Florida, California and Texas led the country in homes sold to international buyers between April 2021 and March 2022. The Lone Star State accounted for 8% of the 98,600 homes purchased by international homebuyers in the U.S., taking third place in the ranking for the fifth year in a row.
Home sales to foreign buyers have been decreasing in Texas over the past several years. In March 2020, the Lone Star State sold 14,000 houses to international buyers, but last year that number was close to 10,000. Now it’s at 8,000 houses. This has been occurring all across the country, with international sales dropping 7.9% compared to last year.
But not everything is bad news: while the number of homes sold has decreased, the total dollar volume has gone up by 8.5% in the U.S. compared to last year, reaching a whopping $59 billion.
Additionally, there have been some interesting changes in trends during the last period. “The region of origin for homebuyers choosing Texas had a noticeable swing this reporting period,” said Russell Berry, chairman of Texas Realtors in a statement.
Traditionally most international buyers interested in Texas come from Latin America and the Caribbean region, making 31% of all the homes sold to foreign buyers. According to the report, Texas is the top destination for buyers from Mexico. This year, however, 27% originated from Europe, a 14% jump from last year.
“Texas remains one of the most desirable destinations for people looking to purchase a home in the United States,” added Berry.
Although Texas came third in the ranking for residential real estate, according to a report by the National Association of Realtors, in the commercial sector it was second only to Florida, with a share of 14% of all commercial real estate sales to international buyers.
In case you missed it, here’s Local Profile’s report on Texas’ housing market.