WRE News September 10, 2023
Buyer
Homebuyers from overseas spent $4.3 billion on nearly 10,000 residential property purchases in Texas between April 2022 to March 2023, according to new data from Texas Realtors. This activity represented 2.8% of the total number of homes sold and 3.6% of the total dollar volume of residential sales during that 12-month period.
The median home price for international buyers was $320,800, compared to the overall Texas median of $342,000, while the average purchase price for international buyers was $446,100. Nearly half of the international buyers opted for all-cash transactions.
Most of the overseas buyers seeking Texas residences came from Mexico (41%), followed by China (8%), India (7%), Nigeria (5%) and Venezuela (5%). According to separate National Association of Realtors data, Texas accounts for 11.7% of all international buyer purchases of U.S. residential properties – only Florida (23%) and California (12.2%) attract more overseas interest. However, 61% of these buyers were already residing in the U.S. on visas.
“Texas has long been one of the most popular states for international buyers,” said Marcus Phipps, 2023 Chairman of the Texas Realtors. “Our strong economy, diverse population, and high quality of life make the Lone Star State an attractive destination.”
Stay up to date on the latest real estate trends.
December 26, 2024
If someone asked you which option would make for the most pleasant train ride possible which would you choose—spending your commute keeping to yourself or striking up … Read more
December 26, 2024
The total share of mortgages in forbearance increased to 0.50% in November, up from 0.47% in October.
December 26, 2024
There’s no doubt that owning a home comes with significant financial benefits.
December 25, 2024
Have you ever thought about packing up and moving to be closer to the people who mean the most to you?
December 25, 2024
Building equity in your house is one of the biggest financial advantages of homeownership.
December 25, 2024
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today