All real estate is local – but not all real estate purchasers are. Buyers from foreign countries continue to account for a significant level of business for many REALTORS®. NAR Research has issued its third annual survey of international home buying activity. Keunwon Chung, Jed Smith and Lawrence Yun report on the level of international clientele, where they are purchasing properties, and some of the challenges REALTORS® and their foreign customers face when buying a U.S. home, below.
International Home Buying: Highlights from NAR’s 2009 Survey
By Lawrence Yun, Jed Smith and Keunwon Chung, NAR Research
International real estate purchases in the U.S. continue to account for a significant share of business for many REALTORS®. Beginning in 2007, NAR Research has surveyed its membership about their level of business with foreign clients; the latest report, The 2009 National Association of REALTORS® Profile of International Home Buying Activity* indicates that while the share of REALTORS® clientele who are from abroad is smaller than in previous years (consistent with other market trends), U.S. real estate remains attractive to international buyers. See full article for highlights from this year’s report.
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