Last month, NAR released its annual Profile of International Home Buying Activity, indicating that foreign investment in the United States remains strong, at $102.6 billion. Other key findings included:
- Foreign buyers typically purchase more expensive properties than resident home buyers and favor all-cash purchases.
- Resident foreigners—those who live here in the US—made up 59% of purchases while those living abroad accounted for 41%.
- A very large percentage of non-residents purchased homes for vacation or investment purposes; residents were much less motivated by these goals.
- Although foreigners purchased properties nationwide, five states accounted for 51% of transactions: Florida, California, Texas, Arizona, and New York. For all real estate professionals—but within these five states in particular—global clients may be an unexplored business opportunity.
The National Association of REALTORS® offers the Certified International Property Specialist (CIPS) Designation which offers education, resources, and benefits related to global real estate; the CIPS serves as the premier credential to exhibit expertise in this area.
NAR’s platform for online education, Center for REALTOR® Development offers a number of courses and bundles that can be applied towards the requirements for obtaining the CIPS, or simply for expanding one’s own knowledge and education related to international opportunities.
This entire month of August, save 25% on all CIPS courses and bundles.
