International homebuyers spent $4.3 billion on residential real estate purchases in Texas from April 2022 to March 2023, according to a recent report from Texas REALTORS®. Nearly half of the purchases — 49% — were made in cash.
With nearly 10,000 purchases, international transactions accounted for 2.8% of the total homes sold and 3.6% of the total dollar volume in Texas during that time. Furthermore, international home purchases in Texas made up 11.7% of all international purchases in the U.S., trailing only Florida (23%) and California (12.2%).
“Texas has long been one of the most popular states for international buyers,” said Marcus Phipps, 2023 chairman of Texas REALTORS®. “Our strong economy, diverse population and high quality of life make the Lone Star State an attractive destination.”
The median home price for international buyers was $320,800, lower than the Texas median of $342,000. However, the average home price was significantly higher than the state average at $446,100, indicating that a handful of more expensive homes drove up the total dollar volume.
Forty-one percent of international Texas home purchases originated in Mexico, followed by China (8%), India (7%), Nigeria (5%) and Venezuela (5%).
via Texas REALTORS/NAR