International

Chinese lead rise in US home sales to foreign buyers

NAR: Florida, California, Texas and Arizona captured 55 percent of international sales

Sales of U.S. homes to foreign buyers rose to an estimated $92.2 billion last year -- the highest sales volume in at least four years, according to an annual report from the National Association of Realtors. The rise was led by Chinese buyers, who accounted for $22 billion -- or 24 percent -- of that total, up from $12.8 billion in last year's report. Four states made up 55 percent of the total reported purchases by foreign buyers: Florida (23 percent of purchases), California (14 percent), Texas (12 percent) and Arizona (6 percent). NAR's 2014 Profile of International Home Buying Activity analyzed data gathered from 3,547 Realtor respondents on international client purchases of U.S. homes between April 2013 and March 2014. International clients were those who either had a permanent residence outside of the U.S. or were recent immigrants who had been in the U.S. less than two years. “We live in an international marketplace; so while all real estate is local, that does ...

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