Highlights from the Profile of International Activity in U.S. Residential Real Estate
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.
Residential Properties Purchased by Foreign Buyers
- Foreign buyers purchased 266,800 residential properties, a decrease from 284,000 during the previous 12-month period.
- The average price of properties purchased by the mix of foreign buyers was $454,400, a decrease from $536,900 during the previous period.
- All dollar volume of purchases from the top five countries declined compared to the levels in the previous 12-month period. The major foreign buyers were China, Canada, the United Kingdom, India, and Mexico.
- 72% of non-resident foreign buyers made an all-cash purchase; 30% of resident foreign buyers paid all-cash.
- 52% of foreign buyers purchased the property as a primary residence.
Residential Properties Sold by Foreigners
- 48% of international clients who sold their U.S. residential property originated from Canada, China, Mexico, India, and the United Kingdom.
- 61% of the properties sold by international clients were in Florida, California, Texas, Arizona, and New York.
U.S. Clients Searching for Properties Abroad
- 7% of REALTOR® respondents had clients who were interested in purchasing property abroad. Mexico, Canada, Costa Rica, France, China, and the United Kingdom were the top countries of interest.
- Most clients seeking property abroad were interested in a residential property and intended to use the property for vacation and/or residential rental.
REALTOR® Interaction with International Clients
- 23% of REALTOR® respondents reported working with international clients, a decrease from 29% in the previous 12-month period.
- 33% of REALTOR® respondents reported an increase in the percentage of international client transactions to their business from one year ago, while 43% reported an increase from five years ago. Most respondents report no change in the share of their business that is international.
- 62% reported that personal contacts, previous clients, and business contacts were the major sources of clients/referrals.
- REALTORS® also help international clients lease U.S. properties. Among all respondents, 11% reported they helped a client lease a residential property.