Global homebuyer hot spot: Miami-Fort Lauderdale-Pompano Beach, Fla.

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Editor's note: This report on the Miami-Fort Lauderdale-Pompano Beach, Fla., market is an excerpt from a special report by Inman News reporter Andrea V. Brambila, "10 Hot Spots for Global Homebuyers" identifying the 10 markets with the greatest share of buyers with a foreign mailing address in the public record between May 2011 and January 2012. A recently released report from the National Association of Realtors found Florida was the top state in the U.S. for international sales in the 12 months through March 2012. In 2010, about 39 percent of the Miami metro area's more than 5.5 million inhabitants 1 year old or older were foreign-born. That same year, 7.4 percent of the market's residents who reported they had moved in the previous year were foreign-born and were moving from abroad -- the second-highest share among the 10 markets. According to DataQuick, 5.3 percent of homes purchased between May 2011 and January 2012 in the area had buyers with a foreign mailing a...