About one in four (24%) international buyers opt for a home in Fla., finds Coldwell Banker study, compared to No. 2 Calif. (11%) and No. 3 Texas (8%).
MIAMI – Florida is still the No. 1 choice for international home buyers, according to the Coldwell Banker International Buyers Guide. About one in four 24% of international buyers purchase a home in Florida.
Percent of international buyers by state:
– Florida: 24%
– California: 11%
– Texas 8%
– Arizona: 7%
– New York: 4%
In 2022, the highest dollar volume among international buyers in the United States came from China, followed by Canada, India, Mexico, Brazil and Colombia.
“Florida and Arizona tend to attract buyers from Latin America, Europe and Canada, who are looking to purchase properties in warm climates for vacation purposes,” according to the guide. “Affordability and diversity of housing in these states also are considerations for many international buyers.”
Although international-buyer purchases slowed during the pandemic, buyers have returned to the market.
“According to the National Association of Realtors®, the sales volume generated by international home buyers in 2021 hit its lowest level since 2011,” the guide says. “International buyer purchases accounted for just 1.6% of existing home sales, down from a peak of 5.2% in 2017. While transactions further decreased in the most recent period, dollar volume of foreign buyer purchases rose 8.5% to $59 billion in the period ending March 2022.”
Source: South Florida Agent (10/26/22) Regan, Patrick
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