Reviewing the last “Profile of International Transactions in US Residential Real Estate during the period April 2019 and March 2020” NAR report, Florida continues being the top destination for international buyers, second being California, third being Texas, and fourth being New York.
This annual report focuses on two groups of international buyers and sellers of residential real estate:
- Non-resident foreigners: Non-U.S. citizens with permanent residences outside the United States. These clients typically purchase property for investment, vacation, or visits of less than six months to the United States on non-immigrant visas.
- Resident foreigners: Non-U.S. citizens who are recent immigrants (less than two years at the time of the transaction) or non-immigrant visa holders who reside for more than six months in the United States for professional, educational, or other reasons.
Top 5 foreign Buyers
- China (11.58 B)
- Canada (9.58 B)
- Mexico ($5.8 B)
- India (5.4 B)
- Colombia (1.3 B)
According to the National Association of Realtor the main highlights are:
- $74 Billion – Dollar volume of foreign buyer residential purchases during April 2019–March 2020 (5% decrease from $77.9 billion during April 2018–March 2019)
- 154,000 – Number of foreign buyer existing-home purchases, which is 3% of existing-home sales (down 16% from 183,100 during April 2018–March 2019)
- 61% – Foreign buyers who resided in the United States (U.S.) as recent immigrants or visa holders.
- $314,600 – Foreign buyer median purchase price (compared to $274,600 for all U.S. existing- homes sold).
- 8% – Foreign buyer purchases of $1M or more (3% percent among all existing-home buyers).
- 39% – Foreign buyers who paid all-cash (compared to 19% among all existing-home buyers).
- 50% – Foreign buyers who purchased property for primary residence,
- 74% – Foreign buyers who purchased a detached single-family home or townhome.
- 48% – Foreign buyers who purchased in a suburban area.
- 4% – Percent of respondents who had a client who leased a U.S. residential property.
- 7% – Percent of respondents who had a client, whether international or not, seeking a foreign property outside of the U.S.
