The National Association of Realtors (NAR) recently released the 2008 NAR Profile of International Home Buying Activity.
“NAR estimates that between 150,000 and 190,000 homes were sold to foreign nationals from May 2007 to May 2008,” according to the NAR press release on the findings. The most popular states where international buyers purchased homes are Florida, California and Texas.”
25.4 percent of all property sales to foreign buyers occurred in Florida alone.
Foreigners who invest in U.S. real estate tend to buy more expensive properties than domestic real estate investors, and are more likely to purchase a condo or townhome than domestic real estate investors.
Foreign buyers purchase properties that cost an average of 36 percent more than domestic buyers, and 14 percent of properties purchased by foreigners cost $750,000 or more, according to the findings.
Source: NuWire Investor
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