Foreign buyers continue to view the U.S. as a desirable place to own property; according to the National Association of REALTORS®’ 2016 Profile of International Activity, U.S. residential real estate sales to international clients accounted for $102 billion between April 2015 and March 2016.
Five states accounted for half of foreign buyer purchases. Buyers flocked to Florida, California, Texas, Arizona and New York. Latin Americans, Europeans and Canadians – who tend to buy in warm climates for vacation purposes – mostly sought properties in Florida and Arizona. California and New York drew the most Asian buyers, while Texas mostly saw sales activity from Latin American, Caribbean and Asian buyers.
Homeownership is attractive to foreign buyers because it’s seen as a solid investment opportunity and an attractive place to visit and live.
Check out NAR’s 2016 Profile of International Activity to learn more about foreign buyers purchases of U.S. properties. Talk to a REALTOR® about international homebuying in your community. Which countries do their clients tend to represent? What area characteristics do foreign buyers find most attractive?