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News Link • Housing

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

•, Steve Brown

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 percent 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."

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