International buyers and investors continue to buy up more real estates in US. The top three most popular states are Florida, California and Texas. They accounted for approximately 45% of the total purchases. Of the many countries, China, for the first time, has overtaken Canada as the top country of origin for foreign buyers of US homes in 2015 according to National Association of Realtors (NAR).
Another statistics show 46% of Chinese buyers paid cash, up 229% from ten years ago according to RealtyTrac. Even recent instability in China’s economy and a significant decline in their stock market have not deterred the Chinese buyers from investing in US. In contrary, the instability has heightened their interest.
Over the 12 months ending March 2015, buyers from China purchased U.S. properties estimated at $28.6 billion in total value, an increase from $22 billion a year ago, according to NAR. The dollar amount represents approximately 28 percent of total international sales. So far, this trend has yet to show any changes. [easingslider id=”6249″]