International buyers purchased $153 billion worth of existing homes in the U.S. from April 2016 to March 2017 — up 49% from the same period a year before, according to recent National Association of Realtors® data. In others terms, foreign buyers purchased 284,455 homes.
Foreign sales accounted for 10 percent of all existing home sales by dollar volume and 5 percent by number of properties.
Where do foreign buyers come from ?
Foreign buyers of US homes are truly global. Chinese, Canadians, Indians, Mexicans and British buyers are quite present, however the biggest group of foreign buyers is, with $75.6 billion worth of transactions, a very interesting group called “All Others” as you can see below:
What should US real estate actors do?
The whole difficulty when addressing this market of $153 billion dollar, is that foreign buyers come from over 60 countries. It is a very fragmented market, as “All others” represent 50% of international sales in the United States. This is precisely why our approach at ListGlobally is to publish US listings on over 100 foreign portals (click here to see the list) including the #1 and #2 property portals in China but not limiting the international visibility to just that. Our approach is to serve our clients with the most complete international marketing strategy.
Want to know more about foreign buyers in the United States ? Contact our team now, we’re here to help.
