Cheap houses, weak dollar and rising property values draw more foreign purchasers of US residential real estate. Data from National Association of Realtors showed that Florida, California and Arizona are the top three states for foreign buyers. 26% of buyers in Florida are foreigners and the percentage is 11% in California and 7% in Arizona.
The top three countries where these buyers are from are Canada (24%), China (11%) and Mexico (8%).
39% of the houses purchased by these foreigners are used as primary residence and 23% intend to use them as vacation homes and 17% use them as rentals.
Foreign buyers purchasing value increased by 24% in 2012 and the number reached 82.5 billion dollars.
