International Homebuyers Add $11 billion to Texas Economy from 2017-2018
Posted by Regent Property Group on Friday, September 28th, 2018 at 3:23pm. 775 Views
International homebuyers purchasing Texas real estate added $10.89 billion to the Texas economy from April 2017 to March 2018, according to the Texas Association of REALTORS® Texas International Homebuyers Report. This placed Texas third in the nation for international home sales volume, behind Florida and California, with Arizona and New York rounding out the top five.
During this time period, 10 percent of all home sales by international sellers were in Texas, and nine percent of all homes sales purchased by international buyers were in Texas. Texas was tops with homebuyers from Mexico, with 38 percent of Mexican homebuyers purchasing a United States homes choosing the state. Seven percent of buyers from China chose Texas, with six percent from India, five percent from the United Kingdom, and three percent from Canada.
“International home sales activity continues to be one of the strongest sectors in Texas real estate, spurring strong growth in the Texas economy,” said TAR chairman Kaki Lybbert.
Six metropolitan statistical areas in Texas placed in the top 50 nationwide for immigration: Houston – Sugar Land – The Woodlands was sixth, Dallas – Fort Worth – Arlington was eighth, Austin – Round Rock – San Marcos was twenty-sixth, San Antonio – New Braunfels was twenty-eighth, El Paso was thirty-third, and McAllen – Edinburg – Mission was forty-eighth.
“Fueled by the desire to start and run a business, obtain world-class education or purchase investment property, international homebuyers continue to choose Texas,” said Lybbert. “ … Texas remains an international hub and top destination for people from across the world to live, work and conduct business.”
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