Each year, the Research Division of NAR collects provided information from almost 6,000 REALTORS® to inform us about international clients in the U.S., their habits, REALTOR® challenges and opportunities. A wide variety of factors impact international activity in the U.S. like housing costs, job creation and currency exchange rate. 2017 found to have an increase in many surveyed areas compared to 2016.
Some of the key findings include:
- Sales dollar volume: $153.0 billion – up 49% from 2016 ($102.6 billion). All time survey high (since 2009).
- China invested $31.7 billion; Canada $19.0 billion; U.K. $9.5 billion; Mexico $9.3 billion; India $7.8 billion. All 5 saw increases from the 2016 survey.
- China was number 1 in sales dollar volume for the 4th straight year and number 1 for total transactions for the 3rd year in a row.
- Sales to recent immigrants ($78.1B) and non-resident foreigners ($74.9) rose to new survey highs.
- Illinois ranked the 4th overall major destination among foreign buyers from China with 7%.
- Total transactions: 284,455 – up 32% from 2016 (208,947).
- Accounted for 10% of total existing sales dollar volume (7% in 2016 survey).
- Median sales price: $302,290; up 9.0% from 2016 ($277,389).
- Approximately 10% of all buyers paid over $1M; 44% paid all cash (50% in 2016).
- Top investment states: Florida (22%), California (12%), Texas (12%), New Jersey, Arizona (4%), and Illinois (3%) as the 6th overall state for foreign investment.
- 29% of REALTORS® worked with international clients (31% in 2016).