For full article, please visit: https://www.internationalrealestate.news/360/united-states-real-estate-still-safe-haven-for-world-capital/
Today, we actually have very promising news for all American real estate agents. Although the market has slowed down in the past year, foreign purchases of U.S. residential real estate surged to the highest levels ever in terms of number of homes sold and dollar volume and shows no signs of letting up! This comes as a huge surprise, given the current strength of the U.S. dollar against most foreign currencies, which makes U.S. housing even more expensive. Apparently, the value of a financial safe-haven is outweighing the rising costs. Foreign sales accounted for 10 percent of all existing RESIDENTIAL HOMES by dollar volume and 5 percent by number of properties. Half of all foreign sales were in just three states: Florida, California and Texas. Chinese buyers led the pack for the fourth straight year, followed by buyers from Canada, the United Kingdom, Mexico and India But the biggest overall surge in sales in the last year came from Canadian buyers who are also spending more per home. Despite the anti-immigrant rhetoric from the Trump administration, especially about building a wall between the U.S. and Mexico, nonresident buyers from Mexico were undeterred. Adam DeSanctis, economic issues media manager at the National Association of Realtors stated that ͞You could easily make the point that perhaps their uptick was wanting to buy now before new immigration policy was in place͟In general, though, Mexicans have been buying less expensive homes. Mexicans overwhelmingly favored homes in Texas, while Chinese buyers opted more for California and, increasingly, Texas Of course, International Real Estate DOT News has got you covered with Real Time Real News, FOR Real Estate. shortly, we will be doing a bit of matchmaking identifying which countries are likely to continue an increase activity for which American cities. We will be showcasing the top 3 most expensive locations which are Miami, New York, and Los Angeles. All three of which are obviously heavily influenced by foreign capital investment
source