Influences on our local market are evident and impacted by facts in article from
National Association of Realtors.
Favorable exchange rates, affordable home prices and rising
affluence abroad continue to drive international buyers to the U.S. to purchase
homes investment properties.
live in a global marketplace. While all real estate is local, not all property buyers
are. A significant share of home purchases are made by people whose primary
residence is outside of the U.S. Find out which are the top five countries of
origin for foreign buyers of U.S. homes, and how these buyers are using the
services of REALTORS®. This year's Profile examines purchases of real estate in
the United States by international clients for the twelve-month period ending
in March 2014.
- $92.2 Billion of purchases
sold to foreign buyers, 12 months ending March 2014
- Sales split approximately
50/50 between resident and non-resident foreigners.
- Foreign sales approximately 7
percent of $1.2 Trillion EHS market.
- 28 percent of REALTORS®
reported having international clients. Market is a niche market—a
relatively few REALTORS® handle many of transactions: e.g., 4% of
REALTORS® have 11 or more clients
- Market fluctuates from year
to year substantially; long term market trend is up: 20 percent of
REALTORS® report market increasing over past 5 years compared to 6 percent
- Foreign buyers are upscale:
Mean purchase price above that paid by domestic buyers.
- Five countries (Canada,
China, Mexico, India, U.K.) accounted for 54 percent of foreign sales.
Lawrence Yun, Senior Vice President
Smith, Managing Director, Quantitative Research
Cororaton, Research Economist June 2014