Industry News

Foreigners seek U.S. homes in sunny states

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Nearly one in five Realtors has sold a U.S. home to an international client in the past year, with the majority of those sales occurring in the Sun Belt states, according to new research by the National Association of Realtors. The 2007 NAR Profile of International Home Buying Activity is the most comprehensive research that NAR has conducted to explore the characteristics of second-home purchases in the United States made by international clients. An international client is a foreign citizen living abroad who has legally entered the United States to purchase a home. "In this country we have always known that housing is a good long-term investment, and many foreign buyers seem to share this view," NAR President Pat V. Combs said in a prepared statement. "This latest study shows that more and more consumers from around the world are interested in purchasing a home in the United States for themselves, as an investment, or simply to enjoy a piece of the American dream." In 2006, most int...