International Investors Want US Homes

According to the National Association of Realtors 2010 Profile of International Home Buying Activity, international home buyers are increasingly attracted to property in the US Several factors, including the strength of the dollar, the value and desirability of US real estate, and the emerging economic recovery, continue to drive international interest in owning a home in this country. “While all real estate in the US is local, the same is not true for property owners,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox Real Estate in Tucson, Ariz. “The US continues to be a top destination for international buyers from all over the world. Foreign buyers understand the value of owning a home in this country and can rely on Realtors to help guide them through the complex process of buying property in the US With expertise, knowledge and experience, Realtors have a global perspective.”

The survey, released today, covers the period between April 1, 2009, and March 31, 2010. During that time foreign buyers, including those with residency outside the US as well as recent immigrants and temporary visa holders, are estimated to have purchased $66 billion of US residential property, or 7% of the residential market. Slightly more than a quarter of Realtors, 28%, reported working with at least one international client in the past year. This is a significant increase from the 2009 report, when 23% of Realtors worked with foreign clients. Eighteen% of all Realtors were estimated to have completed at least one sale, compared to 12% last year.

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