Trends in Second-home Purchases by International Clients may Increase Sales for Ann Arbor Realtors

Second-home purchases in the United States made by international clients is now reported by by the 2007 NAR Profile of International Home Buying Activity.

Foreign buyers purchase homes across the United States, but 52% of sales in 2006 were concentrated in three states - Florida (26%) California (16%) and Texas (10%).

The South attracted nearly half (49%) of international buyers last year, while 31% purchased homes in the West.

Nearly a third of the Realtors® surveyed worked with international clients or prospects during the previous year. Realtors® who actually closed sales of homes to international clients reported an average of 1.9 clients, representing 15% of their annual business.

Most Realtors® reported a rise in sales to international buyers - 25% of Realtors® had increasing business compared to five years ago, with another 67% reporting about the same level of international business; only 8% noted a decrease.

A third of Realtors® surveyed believe that foreign retirees will represent an increasingly important market for Realtors® based in the United States. The 2007 Stefan Swanepoel Trends report gives this credence as well.

Click Here for more data reported quarterly on our South Eastern Michigan area including Ann Arbor and Washtenaw County.

Kathy Toth & Team
http://www.kathytoth.com