NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.

Top U.S. Real Estate Markets for 2023

1. Hartford-West Hartford-East Hartford, Conn.
2. El Paso, Texas
3. Louisville/Jefferson County, Ky.-Ind.
4. Worcester, Mass.-Conn
5. Buffalo-Cheektowaga-Niagara Falls, N.Y.
6. Augusta-Richmond County, Ga.-S.C.
7. Grand Rapids-Wyoming, Mich
8. Columbia, S.C.
9. Chattanooga, Tenn.-Ga.
10. Toledo, Ohio

Source: Top 10 Markets for 2023 (realtor.com®, Dec. 7, 2022)

Foreign Investment Trends​ in the U.S.

Foreign Investment Returns to South Florida (The Real Deal, Dec. 15, 2022)

“The influx of international investment in South Florida is a welcome change for sellers and brokers, now that high mortgage rates have pushed domestic buyers to the sidelines. And the numbers show that foreign investment is returning. This year, international buyers spent $6.8 billion on residential real estate in South Florida, according to the Miami Association of Realtors. That’s a 34 percent annual increase compared to the $5.1 billion they spent last year.”

Coldwell Banker Releases “The International Buyer’s Guide to Purchasing U.S. Property” (Cision PR Newswire, Oct. 25, 2022)

“The five U.S. states that attract the greatest number of international home buyers are Florida, California, Texas, Arizona and New York. While cities like New York and Los Angeles have traditionally attracted the most international dollars, secondary cities are on the rise, presenting as "hidden gem" opportunities. The Coldwell Banker Global Luxury  program issued "The Report 2022," which includes "The Opportunity Index" that measures a market's percentage of annual price increase against the current inventory level.”

Annual Foreign Investment in U.S. Existing-Home Sales Climbed 8.5% to $59 Billion, Ending Three-Year Slide (National Association of REALTORS®, Jul. 18, 2022)

“For the second year in a row, restrictions and general caution tied to international travel during the pandemic slowed home buying by wealthier foreign buyers,” said NAR Chief Economist Lawrence Yun. “Even so, domestic home buying demand was exceptional and, therefore, boosted home sales nationally.”

Profile of International Transactions in U.S. Residential Real Estate (National Association of REALTORS®, 2022)

The 2022 Profile of International Transactions in U.S. Residential Real Estate highlights trends in REALTOR® transactions with international clients. In 2022, the top 5 foreign buyers were from Canada, Mexico, China, India, and Brazil. From April 2021 to March 2022, foreign residential purchases reached $59 billion U.S. dollars, accounting for 2.6% of existing home sales.

Investing in Foreign Markets

Luxury Homebuyers Will Purchase More Property Abroad This Year, a New Report Says (Robb Report, Jan. 9, 2023)

“In addition, the report indicates there will be a boom in international sales. As the pandemic restrictions ease and the US dollar strengthens, more Americans will look to flex their buying power further afield. Last year, approximately 40 percent of Sotheby’s sales in Mexico City were to foreign buyers; this year, the agents predict the number will grow to 60 percent. The percentage of high-end American buyers in Italy also increased from five percent to 13 percent between 2021 and 2022 alone.”

Do You Want to Buy a House in Canada? Not So Fast (The New York Times, Dec. 29, 2022)

“Non-Canadians “got a lot of blame for the housing crisis, and it was a big issue politically,” said Brendon Ogmundson, chief economist of the British Columbia Real Estate Association. “But the pandemic shut off nearly the entire segment of foreign buyers, and prices still hit an all-time high. That’s evidence that foreign buyers are not significant drivers of the market, and this ban will not affect anything. ”Michael Bourque, the Ottawa-based chief executive of the Canadian Real Estate Association, called the law “an affront to Canada’s brand as a welcoming, multicultural nation.”

Buying International Property: How to Finance Foreign Real Estate Investment (Rocket Mortgage, Oct. 21, 2022)

“Along with diversification, one of the biggest draws to foreign investments is the potential for higher returns. In particular, emerging markets allow investors to benefit from higher rental yields and lower costs of living. And if your home country’s market is currently stagnant or unstable, you can still participate in an economy experiencing growth. However, like any investment, it also comes with some inherent risks.“

The 6 Most Popular European Destinations for Americans to Buy Homes as the Strong Dollar Boosts US Wealth Overseas (Business Insider, Sep. 4, 2022)

“According to global real estate company Knight Frank, Paris, St. Tropez, Tuscany, Venice, Barcelona, Mallorca, and Sardinia, have become the most popular European real estate markets for American home buyers. Since the beginning of the pandemic, these, as well as other global destinations like Mexico City have seen a surge in foreign demand — and an invasion of remote workers that don't always benefit local economics.”

Useful Websites

Association of Foreign Investors in Real Estate (AFIRE) (link is external)

Provides information and research on foreign investment trends in real estate.

U.S. Bureau of Economic Analysis (link is external)

Advocates and promotes international real estate investments. Provides an forum for investors to meet and exchange information through regularly scheduled meetings in the United States and Europe.

eBooks & Other Resources

eBooks.realtor.org

The following Books and digital audiobooks are available to NAR members:

Global Real Estate Investment Trusts (eBook)

Passport to Exotic Real Estate (eBook)

How to Invest In Offshore Real Estate and Pay Little or No Taxes (eBook)

International Real Estate Handbook (eBook)

No Going Back - Buying Abroad (eBook)

Have an idea for a real estate topic? Send us your suggestions.

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