Here’s a breakdown of the international buyer pool in the United States.
Today I’ll talk about the international homebuyer market in the U.S. First, let me tell you about the top five international countries that are buying property stateside.
China used to be our top international buyer, but Canada is now in the No. 1 position with about 23% of all international homebuyers. China now makes up about 16%, Mexico contributes around 8%, and almost 8% of our international buyers come from France. Finally, Germany represents about 6% of international buyers.
“39% of international buyers are cash buyers.“
It’s interesting to see where these foreign investors are buying. 22% of international buyers are purchasing property in Florida, 20% are in California, 13% are in New York, 4% are buying in Texas, and 3% are buying in Hawaii.
Breaking this down to the city level, we see that French buyers make up 17.6% of the international buyers in Los Angeles. Canadian buyers account for 15% of international home purchases in LA. Chinese buyers make up 13%, and German buyers represent 7%.
The median purchase price of foreign buyers in the U.S. is $462,000. That’s approximately 10% higher than the average price for domestic buyers. In total, these properties are worth about $107 billion. Additionally, 39% of those international buyers are paying in cash.
Hopefully, this information was helpful. If you have any questions, don’t hesitate to call or email me. I look forward to hearing from you.