According to the National Association of Realtors Florida still leads the nation in the number of foreign homebuyers it attracts. From May 2007 to May 2008 one in four international buyers made their puchase here in Florida, just over 25%. California ranked 2nd and Arizona ranked third.
These buyers are coming from Canada, the United Kingdom, Mexico, China, India and Germany. They have been attracted by the declining market many areas of Florida have been faced with.
Studies have shown that 43% of foreign buyers buy with cash, compared to approximately 7% of Americans.
55% of homes bought by foreigners are used as a primary residence. While over 31% purchase for vacation as well as investment purposes. And only 13% are purchased for investment.
This article is authored by Sandy Shores, Melbourne FL REALTOR.
It is the exclusive property of, and may not be used without the written permission of Sandy Shores, Brevard County, Florida Space Coast. All information is believed to be accurate, but is not warranted. Copyright 2008.
that for you
Interesting statistics Sandy. The 53% that finance, how are they doing that?
Hi Fred, The article that I read did not touch on how the other 57% of international buyers were financing, nor how the other 93% of Americans were financing. If I see any kind of follow up to that info, I'll let you know.
Sandy,
Have you worked with a foreign home buyer yet? I have not, but have a couple out of Canada coming in over Thanksgiving to meet with me.
Thanks for the stats. Easy to read here rather than looking for them.
Kelly
Hey Kelly, How are you today? I have not worked a foreign buyer this year. I worked with 2 last year. Oh, I hope that you don't spend your entire Thanksgiving weekend working! Take care!
Sandy, I can believe this. Every time I am in the Orlando Airport, I see so many visitors. The prices are also very reasonableright now...