Texas is the 3rd hottest state for home buyers from outside the US

Released in Sept. by TX Realtors, report shows that the Lone Star State remains the No. 3 hottest US destination for international homebuyers.

The trend of international buyers purchasing homes in Texas shows no signs of slowing down, as revealed in the latest Texas International Homebuyers Report.

Released in September by Texas Realtors, the report shows that the Lone Star State remains the No. 3 hottest U.S. destination for international homebuyers. Texas ranks behind Florida and California for the fourth consecutive year.

From April 2022 to March 2023, 9,900 Texas homes were purchased by buyers from outside the U.S. These homes make up 11.7 percent of the total number of Texas Realtors sales transactions.

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Source: Culture Map

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The value of residential real estate broke a new record $52 trillion

The total value of the US housing market is 49% higher than before the pandemic.

The U.S. housing market has surged over the past year after a temporary hiccup from July 2022-January 2023. Higher mortgage rates then contributed to a decline in the total value of residential real estate as potential buyers reconsidered their plans and residential investment fell. That downturn has proven to be short lived as housing has rebounded impressively so far in 2023, with the total value of the U.S. housing market surging by more than $2.6 trillion over the past year.

While a small chunk of this growth can be attributed to a 1.3% rise in the average value of a US home over the past year, the powerhouse behind this surge has been new construction. Builders have chipped away at the housing deficit as a steady flow of new homes have hit the market this spring and summer.

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Source: Zillow

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This is what $5M will buy you in the Dallas real estate market

With a $5M budget, you can purchase a modern estate in Northwest Dallas or a roomy manse on a Las Colinas golf course.

With this budget, you can purchase a modern estate in Northwest Dallas, an Arts District high rise or a roomy manse on a Las Colinas golf course (complete with a secret party room).

Whether you’re searching for the ultimate party house or a pretty jewel box in the sky, the $5 million mark opens up quite the selection of high-end residential real estate options. And even if you aren’t looking for a luxurious new address (hey, we can’t all swing a jumbo mortgage), it’s still fun to peek behind the curtains where the well-heeled call home.

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Source: The Dallas Morning News

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