All Eyes on American Real Estate

Foreign buyers who understand the value of U.S. homeownership are taking advantage of the opportunities in today’s housing market. The NAR 2010 Profile of International Home Buying Activity survey revealed that international interest in U.S. real estate is currently driven by the strength of the dollar, the value and desirability of U.S. real estate and the emerging economic recovery.

Foreign buyers are estimated to have purchased $66 billion in U.S. property over the past year, which represents 7 percent of the total residential market. Twenty-eight percent of Realtors® reported working with at least one international client in the past year, a significant increase from 23 percent in the 2009 survey. Eighteen percent of all Realtors® were estimated to have completed at least one sale, up from 12 percent in the 2009 survey.

The survey revealed international buyers came from 53 different countries around the globe. Canada, Mexico, the U.K. and China/Hong Kong rounded out the top four. Talk to a Prudential Waterfront Properties Realtor® about international buyers in the Smith Mountain Lake area to find out what countries they come from and why they’re interested in owning a home in America.