International homebuyer added over $10 billion to the Texas economy from April 2015 to March 2016, according to the Texas International Homebuyers Report released today by the Texas Association of Realtors.
“Over the last several years, Texas has become increasingly popular among international homebuyers from all parts of the globe for relocations, investment properties and vacation homes,” TAR Chairman Leslie Rouda Smith said.
Homes purchased by international buyers made up 7% of total home sales in the U.S. and 6.75% of total home sales dollar volume between April 2015 and March 2016. This is a 3% increase in home sales, buy a 1.25% decrease in international home sales dollar volume from the same period last year.
About 10% of total international home buying activity took place in Texas, the report stated. This is a 2% increase from the same time period last year to 21,488 home sales and $10.2 billion.
During this time, Texas drew equal percentages of homebuyers from Latin America and Asia/Ocieania. About 34% of international homebuyers were from Asia/Oceania whereas about 36% were from Latin America. Other groups included Europeans at 12%, Africans at 8% and Canadians at 4%.
Texas had the highest number of homebuyers from India as 20% of Indian homebuyers bought a home in Texas. It was also the most popular state for Mexicans as Texas received 35% of Mexican homebuyers.