Over a five year time frame, 15 to 20 percent of REALTORS® responding to NAR’s 2015 Profile of Home Buying Activity of International Clients have consistently reported an increase in existing home sales to foreign buyers. The sale of U.S. existing home properties has been a slowly growing niche market, accounting for up to 8 percent of total sales on a dollar volume basis. Sales tend to be at the upper end of the price ranges, with buyers from across the globe. Although buyer interest is focused on a few states (Florida, California, Arizona, Texas), most states have a number of foreign buyers—both resident and non-resident foreigners. The market is subject to the world economic climate (recessions, exchange rates), U.S. market conditions, and preferences of the foreign buyers (e.g., vacation, business, investment, etc.).