It is nearly impossible to have a discussion about real estate trends without talking about the foreign interest in the U.S. housing market. Today’s ‘Top Visual’ answers the question that everyone wants to know: HOW exactly are international buyers buying?!
Personal savings for down payments and all cash sales are the clear and leading trend among foreign buyers. Even more interestingly, foreign clients paid on average nearly $500,000 for a house, compared to the overall U.S. average house price of about $256,000. In addition, 8% of all existing homes sales from Spring 2014-Spring 2015 were purchases by international buyers. Buyers from Canada, China, Mexico, India, and the United Kingdom accounted for 51% of these sales, and top states of choice were Florida, California, Texas, and Arizona. While home prices may be soaring in our eyes, what you can buy with your hard-earned money is well-worth the investment. If our housing market is attracting this type of international asset attention, just imagine how impractical it seems when existing citizens don’t garner the benefits of property ownership here.
For a complete profile of international home buying activity, click here: http://www.realtor.org/reports/profile-of-international-home-buying-activity
***All data contained in this week’s blog courtesy of CAR® (California Association of Realtors).
Check back next Tuesday for another top market infographic picked just for you!
All the best,
VP Business Development & Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/