According to the National Association of Realtors (NAR), foreign buyers, spent $82 billion dollars buying U.S. homes in the 12 months ended in March, up 24% from a year earlier, represeting 8% of total U.S. sales.
In Southwest Florida, foreign buyers already account for 25% of residential sales. Condo sales have been surprisingly accoring to Metrostudy, a housing analytics company, and the majority of those sales are to South Americans and Canadians.
International buyer activity has been great for the Florida market. Housing starts were up nearly 20% in the three months ended Sept. 30, according to Metrostudy. Even better for homeowners, foreign sales can be very easy beacause the buyers are often affluent and buy more expensive homes. And, overwhelmingly, international buyers pay cash.
For more information about the Naples, Florida market, visit www.lovingnaples.com