Buyers hunting a home aren't just competing with house flippers and investors. Nationwide, the number of foreign buyers in the home market has surged to a record high in the last year and Texas is one of their favorite destinations. International buyers purchased more than $153 billion in U.S. residential properties in the 12-month period ending in March, according to an annual study by the National Association of Realtors. That was a 49 percent increase in dollar volume from sales to foreign buyers in the previous year. The biggest rise in U.S. homebuying came from Canadian purchasers, the Realtors said. International buyers snapped up 284,455 U.S. properties — a 32 percent hike from 2016. More than 34,000 of the purchases were in Texas.
- Dallas Morning News, July 19, 2017