2022 International Transactions in U.S. Residential Real EstateNicholas Nolan | August 15, 2022
In July, NAR Research released the 2022 International Transactions in U.S. Residential Real Estate report, which presents information regarding REALTOR® transactions with international clients who purchased and sold U.S. residential property.
What are the main takeaways from the report?
Matt Christopherson: There were fewer foreign buyers this past year, while their purchase dollar volume increased. This was due to continued price gains in the U.S. and foreign buyers generally looking at higher-priced homes compared to the typical domestic buyer. Purchasing just 98,600 homes (1.6% of U.S. existing home sales), foreign buyers had a purchase dollar volume of $59 billion (2.6% of the dollar volume of existing home sales). The nation with the highest percentage of buyers in the U.S. was Canada, and the state with the most foreign buyers was Florida. Foreign buyers primarily purchased detached single-family homes, and nearly half of them paid all-cash.