Florida Leads United States in International Buyers
From Canada to the United Kingdom, Argentina
In 2007, a survey by NAR (the National Association of Realtors) found that Florida led the United States accounting for 26% of all foreign home purchases. California was 2nd at 16%, followed by Texas at 10%. The 2007 NAR Profile of International Home Buying Activity, which covered buying patterns from April 2006 to April 2007, noted that the United States real estate is still considered a prime investment opportunity for foreign buyers and a “safe haven” for their money.
Whether using their U.S. home as rental & investment property, as a vacation/2nd home or both, non-U.S. residents account for a significant share of home buying activity. One of the key reasons is a weaker U.S. dollar against major foreign currencies, including the euro and the British pound. That gives foreign buyers more purchasing power in the Florida market. Compared to home prices in other countries such as Spain, the United Kingdom