"In one year, foreign buyers spent $800M on Austin-area homes"

The #texasrealestate news of the day about Hewlett Packard Enterprise moving its HQ to the Houston area recalled the buzz around a recent piece highlighting how foreign buyers spent $800mm in Austin area homes (Mar '20 LTM)

Seems like a lot, but what to make of it? Total foreign purchase of US residential real estate over the same timeframe was $74B, with Texas coming in third at 9% or $6.7B. Florida and California topped the charts with 22% and 15%, respectively.

It looks like Austin accounted for 12% of foreign resi real estate investment in Texas, a bit over 1% of the total US pie. So, plenty of room to grow, and, given the state's outsized ambitions and other recent HQ moves by McKesson CBRE Charles Schwab AT&T PGA of America and potentially TikTok among others, I'm sure it will.