Texas is the third most popular state for international homebuyers, tied with Arizona, a report released Tuesday by the Texas Association of Realtors shows. Florida and California check in at first and second position on the ranking.
The economic impact of international buyers was about $82.5 billion nationwide from March 2012 to March 2013, according to data gleaned from the National Association of Realtors and the U.S. Census Bureau. The economic impact in Texas is estimated at $6.13 billion.
International homebuyers accounted for about 6.3 percent of all home sales in the country during the same time frame. By far the largest number of homebuyers are from Canada, followed by China, Mexico, India and the United Kingdom.
About 2.2 percent of Texas Realtors reported participation in international transactions from August 2011 to July 2012, the report states.
Not surprisingly, most of the international homebuyers in Texas — about 50 percent — are from Latin America and the Caribbean. About 15 percent are from Asia/Oceania. Another 15 percent are from Canada. About 11 percent are from Africa and 8 percent from Europe.
Data for Texas cities was not available, but immigration figures indicate that Austin is the 26th most popular city for foreigners to migrate to. Houston logs in at No. 7, Dallas-Fort Forth at No. 8, El Paso in 27th and San Antonio in 29th.
Census data estimates that of the approximately 1.1 million people who immigrated to the U.S. in 2011, 9 percent moved to Texas.