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 foreignersâ€”those who live here in the USâ€”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 professionalsâ€”but within these five states in particularâ€”global clients may be an unexplored business opportunity.
The National Association of REALTORSÂ® 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.
NARâ€™s platform for online education, Center for REALTORÂ® Development offers a number of courses and bundles that can be applied towards the requirements for obtaining the CIPS, or simply for expanding oneâ€™s own knowledge and education related to international opportunities.
This entire month of August, save 25% on all CIPS courses and bundles.