Top 5 Foreign Purchasers of U.S. Real Estate | Wall St. Cheat Sheet

If you ask around about the health of the U.S. real estate market, you?ll probably get some mixed responses. Much of the data is positive: new and existing home sales are both on the rise, prices have climbed rapidly over the past few months, and the number of underwater mortgages is declining. The White House and the Federal Reserve have both cited the housing market as a bright spot in the ongoing economic recovery, and homeowner?s equity is at its highest level since the first quarter of 2008.

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While there are some economists who warn that the euphoria won?t last forever, the current state of the U.S. real estate market looks pretty good. So good, in fact, that international buyers are buying property at near record rates. A recent report by the National Association of Realtors shows that international clients purchased an estimated $68.2 billion worth of residential property in the 12 months ending in March 2013 ? or 6.3 percent of the total value of the existing home sales market in the U.S.

Of that $68.2 billion, five countries accounted for 53 percent of total purchases.

Source: http://wallstcheatsheet.com/stocks/top-5-foreign-purchasers-of-u-s-real-estate.html/

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