Latest News August 27th 2012

A survey conducted by the National Realtors Association (NAR) found that roughly one out of five Real Estate sales in the 12 month period between June 2011 and June 2012 involved a foreign buyer. Foreign buyers are non-residents buying residential Real Estate in the U.S. Nationwide approximately 51% of all sales involving foreign buyers go down in only 4 states: Florida – the clear winner with 26%, California, Texas, and Arizona.

Overall 19% of all Florida home sales went to foreign buyers and out of those a good 82% were cash-deals. While Canadians were more tempted by homes in the lower price range the Europeans and Latin Americans went for the higher price items. Many foreign buyers appreciate the American Real Estate market as a result of favorable exchange rates. Buyers from Canada and the United Kingdom were the top-buyers according to the survey. 45% of sales were Condo’s, 10% Townhouses, and 36% were single family homes.

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