Above Autumn Colors Aerial on Suburbs Homes in Austin , Texas. Looking down Birds Eye View on Suburbia Homes in Austin , Texas a Colorful Residential Area in Fall Autumn (Getty Images)
AUSTIN (KXAN) — Texas is the 2nd most desired housing market for foreign buyers, but that money has decreased nationally over the last year, according to a new report from the National Association of Realtors.
NAR Chief Economist Lawrence Yun said that foreign investment is slowing down due to “tight inventory” in the U.S., but that it opens up more space for domestic buyers.
“If it was the case that foreigners were a much heavier presence, I think that would have raised a tremendous amount of frustration among domestic buyers,” Yun said. “If it were 15 years ago when we had an abundance of inventory and we wanted a buyers to pick up those properties, but we are…
