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chinese_speaking_buyersA recent joint analysis found that 46 percent of Mandarin Chinese-speaking buyers who purchased U.S. homes in the 17 months ending in May 2015 paid all-cash, up 229 percent from the 14 percent share paying all-cash in 2005—the biggest increase of any language group. This study came from RealtyTrac® and Ethnic Technologies, and findings were drawn from an analysis of 10 million publicly recorded residential property sales deeds in 2014  and 2015 compared to 2005 by ethnicity and native language spoken.

Among all language groups, the share of all-cash buyers of U.S. homes increased 65 percent from a 20 percent share in 2005 to a 33 percent share in the 17 months ending in May 2015.

“Cash buyers across the board are playing a much bigger role in the housing market now than they were 10 years ago, and that is particularly true for Chinese Mandarin-speaking cash buyers, who are more likely to be foreign nationals,” says Daren Blomquist vice president at RealtyTrac. “Foreign cash buyers have helped to accelerate U.S. home price appreciation over the past few years given that these buyers are often not as constrained by income as local, traditionally financed buyers.

“Markets with a higher share of foreign cash buyers may expect to see a stronger upside in the short term given the continued global economic instability,” Blomquist continues. “But those markets are also more susceptible to a downside in the longer term when demand from foreign cash buyers dries up.”

Mandarin Chinese speaker share of all buyers increases most of any language group
Mandarin Chinese-speaking buyers also increased as a share of overall buyers more than any other language group between 2005 and 2015, up more than 9 percent.

“Asian, Hispanic and African American consumers are driving the substantial growth we are seeing in both real estate and marketing-centric markets”, says Zachary Wilhoit, CEO of Ethnic Technologies. “Just these three segments are about to be 50 percent of the U.S. market and already represent major market shares in the fastest growing Digital Market Space.”

For more information, visit http://data.realtytrac.com/.

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