News from the internet regarding a surprising fact in US real estate. Breaking: International Cash Buyers Boost Home Sales - Is This Helping the Summer Real Estate Market Heat Up? Several Key States Report Increases in International Transactions With approximately 63 percent of international buyers paying cash for homes, the real estate market is seeing a dramatic increase in international transactions year over year from March 2012 – March 2013. While international home sales in the U.S. declined in the past year, they are now at their second highest level in recent years and represent more than 6 percent of total existing-home sales in value. According to the National Association of REALTORS® 2013 Profile of International Home Buying Activity, interest in U.S. properties continues to grow, signaling that America is increasingly regarded by international buyers as a great place to own property. “Foreign buyers are experiencing hurdles not only abroad, but also here in the U.S. when it comes to purchasing property,” said NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif. “Difficult economic conditions, particularly in Europe, have impacted foreign buyers, but several factors in the U.S. have also affected their purchasing power here. Tight credit standards have made financing challenging for immigrants, and low housing inventories have made finding a house difficult. However, none of these factors appear to be permanent.”
Posted on: Mon, 24 Jun 2013 18:00:09 +0000
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