There were a lot of updates that came out this week, the most important of course is the release of the 2015 Home Buying Profile on International Clients. The report profiled international transactions from April 1, 2014 through March 31, 2015. The report is more thorough than its been in years past and also brought fascinating insights and statistics from Realtor.com/international.
Some of the highlights of the report include:
- Total foreign sales dollar volume is estimated at $104 billion, approximately 8% of total total Existing Home Sales dollar volume. This is a 13% increase from the previous years mark of $92 billion.
- The total number of units sold to foreign buyers dropped from 232,600 in 2014, to 209,000 in 2015- approximately a 10% decline.
- As far as units purchased are concerned, Asiana/Oceana accounted for 35 percent of purchases, followed by Latin America at 23%, Europe at 20%, and Canada represented 14%.
- The average dollar amount paid by a foreign buyer drastically increased from $396,862 in 2014 to $499,600 in 2015. The average price for a home in the U.S. in 2015 was $255,600.
- When looking at total dollars spent by international clients, the breakdown is as follows: China with $28.6 billion, followed by Canada at $11.2 billion, Indian buyers with $7.9 billion, Mexican buyers with $4.9 billion, and the U.K rounded out the 5th highest country with $3.8 billion.
- Again, like in years past, Florida, California, Texas and Arizona accounted for 50% of all international transactions.
- 55% of international transactions were all-cash deals; down from about 60% in the previous year. These 55% of transactions accounted for nearly 25% of all of the U.S. all-cash deals.
- Chinese buyers average purchase price nationwide was $831,800 of which about 69% of Chinese purchases were all-cash deals.
- The percentage of REALTORS who reported working with International clients increased to 35%; up from 28% the previous year.