The international buyer, defined as an individual with a permanent residence outside the United States, accounted for approximately 4.6 percent of the total U.S. residential market in the twelve months ending March 2010, according to the report June 2010 report from NAR (National Association of Realtors). When one includes recent immigrants the percentage increases to 7.3 percent. Fifty percent of international buyers came from four countries: Canada, Mexico, United Kingdom, and China. International buyers were active throughout the U.S., but seven states (Florida, California, Arizona, Texas, Georgia, New York, and Nevada) accounted for 65 percent of the volume.
On the buyer side transactions tend to be somewhat concentrated with a small percentage of Realtors®, possibly due to language and cultural facility. The median price of international transactions was somewhat higher than was the case for residential transactions overall.
It appears that the value of the dollar relative to other currencies is an important factor in influencing the purchasing decision. In addition, some buyers see U.S. real estate as being relatively less expensive than comparable real estate in the home country. Finally, foreign buyers are more likely to pay cash than is the case for domestic purchasers, possibly due to imperfections in banking markets.
