Who’s Buying Homes? International Buyers, That’s Who.

By
Real Estate Appraiser with PahRoo Appraisal & Consultancy

International home buyers are taking interest in Chicago and other big cities.  According to Realtor.com’s November 2013 analysis, Chicago was among the top 10 cities in the U.S. that attracted foreign home buyers.

Of the 10 cities, Chicago came in 9th, along with LA, Miami, New York City, Las Vegas, Detroit, Orlando, Houston, Ft. Lauderdale, and Washington DC.

There were 20 countries that were the largest contributors to the November 2013’s data; Canada, United Kingdom, Australia, Ireland, Brazil, Germany, India, France, Japan, Mexico, China, Italy, Netherlands, Philippines, South Korea, Pain, Russia, Singapore, Switzerland, and Sweden.

Chicago attracted more buyers from the Philippines, South Korea, and Singapore.  Of the top 20 countries that used realtor.com to shop for real estate, by far, there was one city in common, Los Angeles. 

The top 10 countries that were searched outside of the U.S. on Realtor.com in November 2013 were Italy, Mexico, Jamaica, Dominican Republic, Costa Rica, Spain, Switzerland, France, Canada, and Bahamas.

 

Given the winter we’ve been having here in Chicago, that doesn’t surprise me.  Everyone here is looking for some sun and sandy beaches right about now.

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