A recent survey bolsters the claim that immigrants on work visas are draining away from the North Texas real estate market. However, both economic and political factors may be at play, according to market research and a leading agent who works with people from India who move to the United States for jobs.
Texas home sales activity lagged during the last few months, “particularly in outlying areas and those reliant on recent immigrant buyers,” the Federal Reserve Bank of Dallas found in its latest Beige Book, an anecdotal survey of businesses and economists that’s published eight times a year. The survey follows reports that immigrants with H-1B visas, who make up an outsized portion of first-time homebuyers in the northern exurbs of the Dallas-Fort Worth Metroplex, are leaving the market.
