Foreign buyers are eyeing property in the US now more than ever with a $16 billion surge this year in international purchases. Total residential international sales in the US amounted to $82 billion in the year ending in March 2011, up from $66 billion in 2010.
“The U.S. has always been a desirable place to own property and a profitable investment,” said NAR President Ron Phipps. “In recent years we have seen more and more foreign buyers coming here to take advantage of low prices and plentiful inventory. In addition to the advantageous market conditions, REALTORS® in this country have a global perspective and experience in working with clients from different cultures and real estate practices, helping them bring value to their international clients.”
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