China Leads the Way in U.S. Real Estate

Chinese buyers have become the fastest growing segment in the real estate market, followed closely by the Canadian buyer.  Chinese buyers have also become the largest source of foreign cash in the U.S. real estate sales in the United States.

 

Over the past several years, American real-estate markets have been viewed alternately as a safe haven and a bargain amid concerns over geopolitical instability or unsustainable asset values abroad.

 

U.S. real-estate also continues to be popular thanks to the dollar’s weakness against some currencies, though the currency advantage has dimmed somewhat for Canadian buyers that had been particularly aggressive property buyers in the U.S. in 2011 and 2012. Some agents say that American higher education is also a top draw for some trophy-property buyers.

 

Steve Brown, president of the National Association of Realtors (NAR) said that “Foreign buyers are being enticed to U.S. real estate because of what they recognize as attractive prices, economic stability, and an incredible opportunity for investment in their future. "

 NAR estimates that 35% of Chinese buyers selected homes in California. Around 40% of Canadians bought homes in Florida, while 23% of Canadians bought in Arizona.

 

China was the largest source of transactions on a dollar basis, and it represents the fastest growing buyer segment. But Canada remained the largest share of clients. Canadians accounted for 19% of property buyers last year, down from 23% in the previous year. Chinese accounted for 16% of buyers, up from 12%. The NAR survey includes buyers from Taiwan and Hong Kong in that tally.

 

Nancy Puder is a real estate broker in Arroyo Grande, CA. with Nancy Puder &Associates. If you have any questions or concerns regarding your own property, contact Nancy at (805)710-2415 or email Nancy@NancyPuder.com.  You may also go to Facebook.com Nancy Puder Realtor and "like" her page to access other real estate related articles.