Profile of International Home Buying Activity in the U.S.
By Christophe Choo Posted Apr 13, 2016 Shared Recommended Articles
Profile of International Home Buying Activity in the U.S. From the National Association of Realtors
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This report is based on a survey of REALTORS® about Existing Home Sales to resident and non-resident foreigners over the time period April 2014 through March 2015.
- Approximately 209 thousand houses are estimated to have been sold to foreign buyers over the time period, approximately 4 percent of total Existing Home Sales.
- The total foreign sales dollar volume is estimated at $104 billion, approximately 8 percent of total Existing Home Sales dollar volume.
- Foreign clients paid on average nearly $500 thousand for a house, compared to the overall U.S. average house price of about $256 thousand.
- Sales to foreigners are split between resident and non-resident purchasers. Resident foreigners may be in the U.S. for business, educational, or other purposes. Non-resident foreigners are typically looking for a vacation or investment property.
- Five countries accounted for 51 percent of purchases by foreigners: Canada, China, Mexico, India, and the United Kingdom.
- Although foreigners purchased property nationwide, four states accounted for 50 percent of international sales: Florida, California, Texas, and Arizona.
- The percentage of REALTOR® respondents who reported working with international clients in the 12 months ending March 2015 increased by 7 percent over the previous year.
Source: Profile of International Home Buying Activity | realtor.org