Foreign investment in US housing drops, but Texas still a top market

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...