With a depressed US economy, there is no denying the fact that there just aren’t as many people searching for homes as there used to be. As domestic real estate activity has cooled, many real estate professionals have turned towards international buyers in order to drive their business forward. In turn, an exploding niche of real estate professional has emerged that caters to international buyers of everyone kind – from those specializing in Chinese investors in California to Canadian snowbirds in Arizona.
Along with this explosion of activity has come a desire for insight into the question of just where are international buyers coming from? To answer this question we dug deep into the data from Point2Homes.com and came up with some interesting results in regards to where international traffic is coming from, and where it is headed.
Florida properties emerged as the lead attraction for foreigners online, followed by Arizona and Nevada real estate listings. Florida real estate listings captured 33.03 percent of the international traffic recorded to all U.S. states during the quarter. Arizona attracted 15.15 percent and Nevada 8.22 percent.
Canadian traffic made up 91.89 percent of the overall international traffic to Arizona listings, 75.90 percent to Hawaii, 73.92 percent to Michigan, 70.55 percent to Nevada and 65.05 percent to California. Puerto Rico, also covered in the report, ranked tenth on the list, with 16.82 percent of the traffic.
Las Vegas ranked first (14.53%) on the report’s overall ‘top 20’ cities in the nation category for online properties searched by international visitors. The top 20 list includes eight cities in Florida, four in California and three in Arizona. Las Vegas real estate listings attracted 91.73 percent of all the international traffic recorded for the state of Nevada during the third quarter, with Canada as the leading source at 70.47 percent. The UK followed at 5.28 percent and France at 2.19 percent.
Want the FULL report with all the juicy data? Feel free to download it right here.