Home sales to Foreigners went down in number but up in value

[James Wise]

Home Sales to Foreigners—Down In Number but Up in Value

Posted in Economist Commentaries, by Jed Smith, Managing Director, Quantitative Research on June 22, 2015

Share on facebookShare on twitterShare on linkedinShare on google_plusone_shareShare on emailMore Sharing Services82015 . The reported 209,000 transactions—approximately 4 percent of total existing-home sales—were down from the 232,600 delineated in the previous report. However, foreign buyers are an upscale group—purchasing homes well above the average market price. During 2014/15 the average price foreign clients paid for a house was $500,000, compared to the overall U.S. average house price of $256,000. Approximately $54.5 billion of sales was attributed to non-resident foreigners, with resident foreigners accounting for $49.4 billion of sales.