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PALM SPRINGS | CATHEDRAL CITY | RANCHO MIRAGE | PALM DESERT | INDIAN WELLS | LA QUINTA | INDIO
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According to the National Association of Realtors® 2017 Profile of International Activity in U.S. Residential Real Estate, between April 2016 and March 2017, foreign buyers and recent immigrants purchased $153.0 billion of residential property, which is a 49 percent jump from 2016 ($102.6 billion) and surpasses 2015 ($103.9 billion) as the new survey high. Overall, 284,455 U.S. properties were bought by foreign buyers (up 32 percent from 2016), and purchases accounted for 10 percent of the dollar volume of existing-home sales (versus 8 percent in 2016). The study revealed that nearly half of all foreign sales were in three states: Florida, California and Texas. Interestingly, the study also revealed that although China maintained its top position in sales dollar volume for the fourth straight year, the significant rise in foreign investment in the survey came from a massive hike in activity from Canadian buyers. After dipping in the 2016 survey to $8.9 billion in sales ($11.2 billion in 2015), transactions from Canadians this year totaled $19.0 billion, a new high for Canada.
Want more information about buying real estate in the United States? Then check out this Foreign Buyer’s Guide at:
What To Know About Buying Real Estate In The U.S.
And, if you have any other questions, please contact us; we're here to help.
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