Do you know New Jersey Ranks as Top State with International Buyers ?

cityscape photo
Advertisements

New Jersey Ranks as Top State with International Buyers According to a recent report from the National Association of Realtors, New Jersey was in the top five states that attracted the greatest number of foreign of U.S. residential real estate. The other states were California, Arizona, Texas, and Florida. Read the report

he 2021 Profile of International Transactions in U.S. Residential Real Estate presents information regarding REALTOR® transactions with international clients who purchased and sold U.S. residential property during the 12-month period of April 2020–March 2021. The report also provides information on U.S. clients seeking to purchase property abroad.

Cover of the International Transactions in U.S. Residential Real Estate report

The term international or foreign client refers to two types of clients:

  • Non-resident foreigners (Type A): Non-U.S. citizens with permanent residences outside the U.S.
  • Resident foreigners (Type B): Non-U.S. citizens who are recent immigrants (less than two years at the time of the transaction) or non-immigrant visa holders who reside for more than six months in the U.S. for professional, educational, or other reasons.

Highlights

  • $54.4 Billion – Dollar volume of foreign buyer residential purchases during April 2020–March 2021 (2.8% of $1.96 trillion of the dollar volume of existing-home sales)
  • 107,000 – Number of foreign buyer existing-home purchases during April 2020–March 2021 (1.8% of 5.79 million of existing-home sales)
  • 58% – Foreign who reside in the United States (recent immigrants (less than two years at the time of the transaction) or non-immigrant visa holders (Type B)

Top 5 Foreign

  • Canada (8% of foreign buyers, $4.2 B)
  • Mexico (7% of foreign buyers, $2.9 B)
  • China (6% of foreign buyers, $4.5 B)
  • India (4% of foreign buyers, $3.1 B)
  • United Kingdom (4% of foreign buyers, $2.3 B)

Source from International Transactions in U.S. Residential Real Estate (nar.realtor)

Related posts

Leave a Reply