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2015 Profile of International Home Buying Activity of International Clients For the Twelve Month Period Ending March 2015 National Association of REALTORS®
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2015 Profile of Home Buying Activity of International Clients NATIONAL ASSOCIATION OF REALTORS ® Research Division, June 2015 Lawrence Yun, Senior Vice President & Chief Economist Jed Smith, Managing Director, Quantitative Research Gay Cororaton, Research Economist
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Dollar Volume of Residential Sales to Foreigners A $104 Billion Market, 12 Months Ending March 2015
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Two Types of International Clients
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Total Number of Sales to Foreigners Decreased, 12 Months Ending March 2015
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International Clients Purchase at Upper End of Market Mean Prices: All Buyers vs. International Clients 12 Months Ending March 2015
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International Clients: Region of Origin
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Origin of Purchaser by Region Florida and California 12 Months Ending March 2015
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Origin of Purchaser by Region Texas and Arizona 12 Months Ending March 2015
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Average Home Purchase Price By Country of Purchaser 12 Months Ending March 2015
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Major Countries of Origin of Buyers Percentage of Total International Sales Measured in Unit Volume as of 12 Months Ending March of Respective Year
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China and India of Increasing Importance Chinese Dollar Volume Substantial 12 Months Ending March 2015
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Top Four States of Interest Florida, California, Texas, and Arizona
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Why Do Foreigners Buy U.S. Residential Real Estate? 12 Months Ending March 2015
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Majority of Sales Are Cash 12 Months Ending March of Respective Year
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Value of Dollar Impacts International Purchases Helps to Explain Decline in Sales 12 Months Ending March 2015
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Price of U.S. Home, Based on Currency of Buyer A Rising Dollar Made U.S. Residential Property More Expensive
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Average Purchase Price by Year 12 Months Ending March of Respective Year
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A Significant Number of REALTORS® Reported Having Foreign Clients 12 Months Ending March of Respective Year
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How Do REALTORS® Obtain International Clients? 12 Months Ending March 2015
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A Specialized Market: 5 Percent Had More than 5 International Buyers 12 Months Ending March of Respective Year
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Not All Clients Buy: Reasons Given for Clients Not Purchasing (Multiple Responses Permitted, 12 Months Ending March 2015)
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How Has Number of Clients Changed in Past 5 Years? 12 Months Ending March 2015
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Conclusions International Clients: A Niche, Upscale Market – A Slowly Growing Market: Prices up – Greater Concentration of Sales in Upper Brackets – Sales to Both Resident and Non-Resident Foreigners. A Niche Market: Overall Share is 8 Percent of Existing Home Sales Dollar Volume. – Of Greater Importance in a Number of States—Florida, California, Arizona, Texas. Purchases for a Variety of Purposes: Investment, Vacation, Residential. An Upscale Market – Prices Significantly Above Median Price. Requires Specialized Skills. – Cultural Awareness. – Real Estate Practices on an International Basis
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