Texas Scorecard by Katy Marshall September 11, 2023
Individuals from Mexico, China, and India were among the top buyers. A new report from the Texas Realtors shows that foreign homebuyers spent more than $4 billion purchasing Texas land from April 2022 to March 2023.
The report showed that international buyers purchased 10,000 homes in Texas during that time, making up 2.8 percent of all homes sold.
The median home price for international buyers was $320,800, while the average purchase price was $446,100. According to the Texas Realtors, “This suggests that while the majority of international buyers purchased homes priced close to or below the Texas median, a subset of international buyers bought significantly more expensive homes, driving up the average and total dollar volume.”
Forty-nine percent of the buyers paid in cash, which the Texas Realtors said “indicates that many of those buyers had a desire and means to purchase property without obtaining a mortgage.”
Mexico provided the most international homebuyers at 41 percent. The other four top countries were China at 8 percent, India at 7 percent, Nigeria at 5 percent, and Venezuela at 5 percent.
More:
https://texasscorecard.com/state/foreign-homebuyers-purchase-more-than-4-billion-in-texas-real-estate/
