International homebuyers are banking on the health of the Texas real estate market. A report from the Texas Association of Realtors says that sales of Texas properties to international buyers increased by almost 60 percent between April 2016 and March of this year.
International buyers purchased some 34,000 homes in Texas during the period covered by the report, which amounts to 12 percent of the national total. Latin Americans account for 40 percent of international buyers, while residents from the Asia-Pacific region account for 39 percent.
Vicki Fullerton, the 2017 chairman of the Texas Association of Realtors, says that in addition to the raw number of homes sold, the dollar value of homes purchased by international buyers has gone up a lot. She says the economic climate in Texas, and the state’s business-friendly attitude contribute to the appeal of Texas real estate to international buyers.
Written by Shelly Brisbin.