AUSTIN – International buyers spent $4.3 billion on nearly 10,000 home purchases in Texas from April 2022 to March 2023, according to a new report from Texas Realtors.
This activity represents 2.8 percent of the total number of homes sold and 3.6 percent of total dollar volume of residential sales.
While the median home price for international buyers ($320,800) is lower than the overall Texas median ($342,000), the average purchase price for international buyers was $446,100. 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.
Nearly half (49 percent) of international buyers opted for all-cash transactions.
A significant portion (61 percent) of international buyers already resided in the U.S. on visas.
According to a National Association of Realtors nationwide report of international homebuying activity, 11.7 percent of all international buyers of residential property in the U.S. purchased a home in Texas, behind only Florida (23 percent) and California (12.2 percent).
Mexico led significantly in terms of country of origin for foreign homebuyers in Texas, accounting for 41 percent of purchases. The other top countries were China (8 percent), India (7 percent), Nigeria (5 percent) and Venezuela (5 percent).