Texas Third in Nation for International Home Sales
published on September 28, 2013
Texas tied Arizona for the third-largest proportion of international home sales in the United States between March 2012 and March 2013, according to the latest Texas International Homebuyers Report released by the Texas Association of REALTORS®.
The figures, based on data from the National Association of REALTORS® and the U.S. Census Bureaus, showed that of $82.5 billion in U.S. international sales volume, $6.13 billion (9%) originated from Texas.
“International home-buyers are drawn to Texas due to the robust economy, beautiful terrain, outdoor lifestyle, music, job opportunities, and the central geographic location in the U.S.,” said Regent Property Group’s Brian Talley, who has witnessed the trend firsthand and has worked with clients from around the world, including China and the UK.
While 11% of Texas international homebuyers come from Africa and eight percent come from Europe, 51% originated from Latin America. Talley, who recently helped an international client from South Africa, says many international homebuyers are purchasing second homes as investment properties.
Texas Association of REALTORS® chairman Chad Bogany said, “International home sales are a key component to the Texas real estate industry and our economy.” He said TAR has been working with international real estate associations to provide more educational opportunities for members and more resources for property owners interested in international markets. Mexico’s real estate association (AMPI), for example, signed a historic cross-border partnership agreement last year with the Texas Association of REALTORS® to build cooperation and collaboration.
Texas boasts the third-largest immigrant population size and includes six of the top 50 metro areas for immigration in the U.S. Thirty-seven percent of immigrants in Texas entered in 2000 or later.
Since rates of homeownership increase with length of tenure in the U.S., international home sales in Texas are only expected to increase over time.
Searching for a home in Austin? The luxury REALTORS® at Austin’s Regent Property Group assist international homebuyers in the purchase of ATX lakefront and downtown properties. Whether it’s a lakeside home near Tarrytown, or a beautiful greenbelt home in Lost Creek, Regent can help.
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