Foreign homebuyers spending less on US real estate, report says

NAR released its 2016 Profile of International Activity in U.S. Residential Real Estate
  • From April 2015 to March 2016, the total purchase amount from foreign buyers was $102.6 billion, which was a dip from $103.9 billion in the previous 12-month period.
  • Five states accounted for the majority of foreign homebuyer destinations: Florida, California, Texas, Arizona and New York.
  • Chinese buyers spent a total of $27.3 billion in 2016 on U.S. real estate, compared to $11.2 billion in 2010.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Foreign investment of U.S. real estate is slowing, but not all markets are created equally. According to the recent 2016 Profile of International Activity in U.S. Residential Real EstateĀ from the National Association of Realtors, slow economic growth in countries throughout the world has put a damper on foreign investment in American real estate. The majority (51 percent) of total residences purchased by foreign investors were concentrated in five states: Florida (22 percent), California (15 percent), Texas (10 percent), Arizona (4 percent) and New York (4 percent). Those buyers are typically coming from China, Canada, India, the United Kingdom and Mexico, according to the report. During a 12-month period from April 2015 to March 2016, foreign buyers bought a total of $102.6 billion of U.S. residential property, the report says. This marks an annual fall from the previous year's $103.9 billion. Primarily, 72 percent non-resident foreign buyers are purchasing properties in...