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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