It’s been well documented that Texas is a much sought-after destination for individuals from other parts of the country, but a new report from the Texas Association of Realtors reveals that the Lone Star State is also incredibly attractive to international buyers.
The Texas International Home Buyers Report found that international home buyers spent more than $6.13 billion in the Texas economy between March 2012 and March 2013. Taking a look at more housing specific data, the report found that international buyers comprised 6.3 percent of total U.S. home sales during that year with Texas counting for 9 percent, or $6.13 billion of that sales volume.
“International home sales are a key component to the Texas real estate industry and our economy,” said Shad Bogany, chairman of the Texas Association of Realtors. “In recent years, we’ve seen increasing interest in international real estate opportunities, both international homebuyers purchasing property here in the U.S. and Americans purchasing property internationally.”
Bogany added that with international home sales on the rise in Texas, the Texas Association of Realtors is doing its part to ensure that there are greater educational opportunities for property owners in the state when it comes to international markets.
International interest in U.S. properties has been a hot topic ever since the economic downturn and housing recession, with overseas buyers interested in snatching up ultra low-priced homes and flipping them for a profit. Now that the housing market and economy are well on their way toward recovery, these international investors are interested in Texas property for the purpose of living there as a primary residence or a second home.
Whether you’re from Texas, another state in the country or are from overseas, we understand why you’d like to call the Lone Star State home and would like to make your dream of living here come true. Contact us today to learn more about North Texas and Dallas real estate opportunities.
+Patrick Glaros empowers people to find their best home loan option. Through planning and education, and a goal-oriented approach, Patrick and the team at Dallas Mortgage Planners have one common goal: Help clients make an informed decision to choose the best home loan for their unique situation. Find other articles written by Patrick.
