Annual Report Regarding International Buyers

Posted on August 5th, 2022

Annual Report Regarding International Buyers

The National Association of Realtors (NAR) recently released its annual report regarding international buyers, and I thought it was worth sharing since the topic comes up quite often.  Between April 2021 and March 2022, foreign buyers spent $59 Billion on residential purchases.  This is an 8.5% increase from the previous year, and 44% of these buyers paid all-cash.  74% purchased a single-family home, 46% selected a suburban area, 29% chose an urban area and just 5% purchased in a resort area. 

The top states for investment were Florida (24%), California (11%), Texas (8%), Arizona (7%), New York (4%) and North Carolina (4%).  $598,200 was the average price paid for existing-home sales was the highest ever recorded by NAR (17% more than the previous year).  The median price paid was $366,100.  It is interesting to note that Florida has been the top destination for foreign buyers for the 14th straight year.

The top foreign buyers of US residential real estate came from:

Canada 11%, 5.5 Billion

Mexico 8%, 2.9 Billion

China 6%, 6.1 Billion

India 5%, 3.6 Billion

Brazil 3%, 1.6 Billion

Columbia 3%, 1 Billion

Have a great week!  As always, please consider me as a resource for any real estate questions you may have.

 

 

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