Foreign Investment in U.S. Jumps 49 Percent to Record $153 Billion

The following information is provided by the Center for REALTOR® Development (CRD).

If you’re already involved in global real estate, here’s reason to celebrate: Foreign investment in residential U.S. real estate has skyrocketed up to $153 billion, according to the 2017 Profile of International Activity in U.S. Residential Real Estate. The new survey high indicates that despite political and economic uncertainty both here and abroad, the United States is still a safe and secure place to live, work and invest. While China is still the top buyer of U.S. residential real estate, Canada accounted for the most growth in the past year, from $8.9 billion in 2016 to $19 billion in 2017. Key takeaways from the report:

  • Sales Dollar Volume:$153.0 billion – up 49 percent from 2016 ($102.6 billion); all-time survey high (since 2009)
  • Total Transactions:284,455 – up 32 percent from 2016 (208,947)
  • Top Countries: China ($31.7 billion), Canada ($19.0 billion), U.K. ($9.5 billion), Mexico ($9.3 billion), India ($7.8 billion) – all five countries saw increases from the 2016 survey
  • Median Sales Price:$302,290 – up 9.0 percent from 2016 ($277,389); 28 percent higher than U.S. national median price of $277,389; approximately 10 percent of all buyers paid over $1 million; 44 percent paid all cash (50 percent in 2016)
  • Top States:Florida (22 percent), California (12 percent), Texas (12 percent), New Jersey and Arizona (4 percent)
  • International Clients: Twenty-nine percent of REALTORS® worked with international clients (31 percent in 2016) – referrals/personal or business contacts accounted for 64 percent of international client business

NAR_Foreign_2017

Read the full report, press release and infographic. (NAR member login required.)

To learn much more about expanding your business internationally, consider taking one of the six individual international courses or six bundles on our platform developed by the Global Business and Alliances division of NAR. All of these online products can be used towards earning NAR’s Certified International Property Specialist (CIPS) designation. This entire month of August, all CIPS courses and bundles are 25% off at the Center for REALTOR® Development.

Cindy Fauth (CIPS, e-PRO®) is director of Global Marketing & Communications for the National Association of REALTORS® Commercial & Global Services division. She joined NAR in September 2009, and lends her expertise to the promotion and growth of the Certified International Property Specialist (CIPS) designation, At Home With Diversity certification, and International REALTOR® membership, along with the many other programs NAR Commercial & Global Services offers.

A version of this article originally appeared on NAR’s The Global View blog.

For more information, please visit onlinelearning.realtor.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Foreign Investment in U.S. Jumps 49 Percent to Record $153 Billion appeared first on RISMedia.



from real estate news and flip houses http://bit.ly/2wFA4lm
Real Estate Investing News proudly brought to you by Real Estate Sales LLC. Your Real Estate Investing Expert Coach

Comentarii

Trimiteți un comentariu

Postări populare de pe acest blog

RE/MAX Reintroduces Brand With Fresh Logo

Imagine
RE/MAX announced a “refresh” of its brand identity on Monday, including an update to its iconic balloon logo and wordmark. The changes will appear in advertising and on office fronts and yard signs in the months ahead, as well as in TV ads and on remax.com this fall. “Our new look better represents the enthusiastic entrepreneurs who comprise our network,” says Adam Contos, co-CEO of RE/MAX. “Great brands evolve and RE/MAX is no different. We believe the updated balloon and wordmark will help our agents grow their business and give them an even bigger competitive advantage in digital, social media and mobile marketing.” RE/MAX’s red, white and blue hot air balloon is now “brighter, more modern and more appealing to homebuyers and sellers of today,” according to a release from the company. The refresh, which was developed with feedback from more than 20,000 consumers, is the first-ever update to the 44-year-old company’s brand identity. “It’s a brand evolution, not a brand revolution
Citiți mai multe

Economy to Weather Turbulence in Second Half of Year

Analysts anticipate the economy will weather turbulence expected in the second half of the year, according to Fannie Mae’s Economic & Strategic Research (ESR) Group’s recently released Economic and Housing Outlook for August 2017. The Outlook maintains the economy will grow 2.0 percent over the course of the year, even with possible setbacks on the horizon. “We are keeping our full-year economic growth outlook at 2.0 percent, as risks to our forecast are roughly balanced,” says Doug Duncan, chief economist at Fannie Mae. “On the upside, consumer spending growth might not moderate as much as we have accounted for in our forecast. A build-up in inventory also should be positive for growth this quarter and nonresidential investment in structures will likely continue to improve as oil prices stabilize. In addition, the decline in the dollar and a pick-up in global growth should support manufacturing and exports, although the outlook for the trade sector is clouded by uncertainty surro
Citiți mai multe

Housing Provisions Approved in Government Spending Bill

Imagine
A massive $1.3 trillion, 2,232-page spending bill—which is set to keep government agencies operating through September—has been approved by the House and Senate. The House approved the bill Thursday with a 256-167 vote; members of the Senate approved the bill in a 256-167 vote on Friday. President Donald Trump  tweeted concerns and possible plans to veto the bill over insufficient funding for the border wall and the absence of Deferred Action for Childhood Arrivals (DACA) legislation. I am considering a VETO of the Omnibus Spending Bill based on the fact that the 800,000 plus DACA recipients have been totally abandoned by the Democrats (not even mentioned in Bill) and the BORDER WALL, which is desperately needed for our National Defense, is not fully funded. — Donald J. Trump (@realDonaldTrump) March 23, 2018 However, he signed the bill on Friday afternoon, stating that funding is needed to rebuild the military. Along with measures to increase funding for the military and school
Citiți mai multe