Foreigners bought $18.7 billion worth of houses in Texas in 12 months!

on . Posted in Articles of Interest

DALLAS, Texas (PNN) - August 15, 2017 - Foreign homebuyers are taking a big bite out of Texas' hot housing markets.

International buyers purchased 34,135 Texas homes during the year that ended with the first quarter, according to a new report by the Texas Association of Realtors.

Offshore home buys in the Lone Star State added up to almost $18.7 billion during the 12-month period, according to a new Realtors report.

Texas homes purchased by international buyers rose a stunning 59% from the previous year.

"This surge in international home sales activity underscores the growing reputation Texas has as a global destination for owning a home or investment property," Vicki Fullerton, chairwoman of the Texas Association of Realtors, said in the report. "The state's low unemployment, diverse industry base, and world-class higher education institutions are just some of the reasons why international residents seek to attend college, raise a family, or do business in Texas."

Texas ranks second to Florida for foreign home purchases with 12% of the Fascist Police States of Amerika total.

Most of the acquisitions were by Mexicans. The Realtors' study found that 43% of all FPSA residential acquisitions by Mexican buyers last year were in Texas.

Chinese buyers also are purchasing more Texas homes, up 11% from 2016 levels.

The Texas breakdown of foreign homebuyers comes on the heels of a recent nationwide report on international purchases.

Foreign buyers acquired a record $153 billion in FPSA homes, the National Association of Realtors reported last month. That was a 49% increase in dollar volume from sales to foreign buyers in the previous year.

Florida, Texas, Kalifornia, New Jersey and Arizona are the most popular states for international homebuyers.

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