International Buyers Pass on Buying United States Real Estate
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Remember how the rallying cry was that while the US home buyers were not stepping up to the plate, international buyers were flocking to buy our homes? Well for the past year, that has not been the case in most of the country. Sales were down approximately 10 percent overall by international buyers.
From May 2008 to May 2009 foreign nationals purchased an estimated 154,000 homes in the United States, down from 170,000 in the previous 12 months, the survey found. Twenty-three percent of the agents questioned reported at least one contact with an international client, down from 26 percent in 2008 and 32 percent in 2007.
But the study also reflected the continued importance of overseas buyers to the U.S. market. International transactions accounted for 9 percent of total business, unchanged from the previous year.
The bright spot for international real estate agents is in the 4 largest states for overseas sales.
And agents in the top four states for international sales — Florida, California, Texas and Arizona — reported their international business actually increased 35 to 45 percent in the period. via NYTimes.com.
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
Comment by Portland Real Estate on 12 October 2009:
Thats probably good. I dont mind money from other countries flowing into the US, but as investments go, that just means that the money will flow back away from us at one point or another.
-Tyler
Comment by edwin on 28 December 2009:
International investors in nyc are having a field day with all the discounted condos in manhattan, capitalizing on fantastic investment low priced properties and also their euro dollar..;>)
For those whom have ceased to buy in nyc, only leaves more options and opportunities for those that are still buying so international investors take a peak at nyc…insider tip.
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