DataInternational

International buyers still choosing Florida, NAR says

NAR data shows nearly a quarter of international sales over the last year fell in Florida
  • Foreign buyers scooped up 214,885 properties in the U.S. during the last year, compared to 208,947 the year prior.
  • The median for foreign buyer purchases is $277,380, versus the median price of $223,058 on all U.S. existing home sales.
  • Of the $102.6 billion in purchases from foreign buyers between April 2015 and March 2016, Florida held 22 percent of transactions.
  • Florida attracts buyers from Latin America, Europe and Canada looking for vacation homes in warm climates.

Despite the all-cash disclosure rules active between March and September 2016 in Miami, the National Association of Realtors says Florida remained one of the biggest international buyer destinations over the last year. Out of the $102.6 billion in U.S. purchases from foreign buyers between April 2015 and March 2016, Florida held 22 percent of transactions, according to the NAR Research Department. California came in second with 15 percent of purchases, and Texas sat at third with 10 percent. Arizona and New York tied for fifth, with 4 percent of international buyers each. NAR / Profile of International Activity in U.S. Residential Real Estate Although volume dropped from the previous 12-month period, down from $103.9 billion to $102.6 billion, the number of international purchases increased 3 percent, NAR says. Foreign buyers scooped up 214,885 properties in the last year, compared to 208,947 the year prior. Did international buyers spend less? From spring to...