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International homebuying has dropped off in Austin — will it stay low?

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International homebuying has dropped off in Austin — will it stay low?

A new report from the Austin Board of Realtors shows the chilling effects of the pandemic on deals by international buyers. International homebuyers accounted for $634 million in sales volume — or 3% of the total — in the Austin metro between April 2020 and March 2021, $200 million less than the same period a year prior. More international buyers are opting for investment properties rather than primary residences.