International homebuyers have made a significant impact on the Central Texas economy, contributing $618 million from April 2023 to March 2024. This data comes from the 2024 Central Texas International Homebuyers Report released by Unlock MLS. The report highlights that foreign buyers accounted for 3% of all residential sales dollar volume in the Austin-Round Rock-San Marcos metropolitan statistical area (MSA). Closed sales increased by 2% year-over-year, reaching 1,020 sales, and the median closing price rose by 0.8% to $577,778.
Kent Redding, president of ABoR for 2024, stated: “Over the past decade, one in six new Austin-area residents relocated from abroad.” He emphasized the region's appeal due to its resilient economy and high quality of life.
The report reveals that Mexico is the leading country of origin for international homebuyers in Central Texas at 20%, followed by India at 17%, Canada at 7%, China at 5%, and Brazil also at 5%. Additionally, over one-third of international clients were U.S. permanent residents.
Clare Knapp, Ph.D., housing economist for Unlock MLS and ABoR, noted: “Despite economic challenges–such as inflation, geopolitical conflicts and elevated interest rates–international interest in Central Texas remained stable year-over-year.” She attributed this stability to factors such as rapid growth in the MSA and relative affordability compared to other international cities.
The report indicates that most foreign buyers purchased homes as primary residences but saw a slight decline from previous years. Additionally, a majority used mortgage financing within the U.S., though this percentage decreased slightly from last year.
Travis County attracted more than two-fifths of these international purchases. Meanwhile, Williamson County accounted for 21% and Hays County for 14%. Bastrop and Caldwell Counties together represented an additional combined share.
Knapp expressed optimism about future transactions: “It’s clear that Central Texas will continue to serve as a destination for international homebuyers and investors.”
For further details or to access the full report, visit www.ABoR.com/Global. The Austin Board of REALTORS® has been serving Central Texas real estate needs for nearly a century through professional development and advocacy efforts.
Unlock MLS Research provides comprehensive market intelligence under Dr. Clare Knapp's leadership to help understand regional housing trends impacting professionals and policymakers alike.