The COLDWELL BANKER® INTERNATIONAL BUYER’S GUIDE to Purchasing U.S. Property

Coldwell Banker Real Estate LLC has unveiled its updated guide, “The International Buyer’s Guide to Purchasing U.S. Property” for 2023, presenting a comprehensive and freshly curated resource for global investors navigating the U.S. real estate market. This revamped collection of insights not only serves as an invaluable tool for Coldwell Banker-affiliated agents but also doubles as a potent marketing asset, facilitating global referral business seamlessly.

Among the key highlights in The International Buyer’s Guide is an insightful exploration of the current real estate landscape in the United States. Following a period of remarkable home sales and price appreciation, the U.S. housing market has undergone a shift, characterized by unit contraction and a deceleration of appreciation. Factors such as higher interest rates, historically low housing inventory, and resilient home prices have impacted domestic buyer activity. The median existing-home sales price, standing at $394,300, reflects a 2.8% year-over-year increase, marking the third consecutive month of such upticks.

Similarly, international buyer activity has experienced a contraction, with the number of existing homes purchased by international buyers reaching its lowest point since tracking began in 2009 – a significant 14% decline from the preceding period. The dollar volume of international buyer purchases also saw a modest decrease, totaling $53.3 billion.

Delving into specific statistics, international buyers accounted for 84,600 existing home purchases. Notably, 42% of these buyers opted for all-cash transactions, a significant contrast to the 26% among all existing home buyers. Furthermore, 50% of international buyers invested in U.S. property for use as a vacation home, rental property, or a combination of both.

This year’s top five U.S. states attracting the highest number of international home buyers are Florida, California, Texas, Arizona, and North Carolina. While major cities like New York and Los Angeles have historically been magnets for international investment, the guide suggests that affordable secondary cities, suburbs, and inland housing markets now present appealing “hidden gem” opportunities.

Recognizing the complexities and stresses of the home buying process, especially for international buyers, Jason Waugh, President of Coldwell Banker Affiliates, emphasized the significance of the refreshed guide. Waugh noted, “Homebuying can be a stressful and complex process, and even more so for the international buyer. This year, we’re elated to provide a refreshed instructional guide that demystifies the process of acquiring real estate in the U.S. The ‘International Buyer’s Guide to Purchasing U.S. Property’ provides an expansive catalog of best practices, tips, and recommendations for buyers when thinking about their next purchase.”

In conclusion, for a seamless transaction experience, the guide emphasizes the importance of international buyers partnering with a trusted consultant. Coldwell Banker® affiliated agents stand ready to provide expertise at every step of the process, offering around-the-clock support to address unique challenges and help international buyers secure their dream homes.

Contact me today for a personalized consultation: 

SALVATORE DOMINA 

REALTOR® – Associate Coldwell Banker Realty

4000 Ponce De Leon Blvd. 

Suite 700 

Coral Gables, FL 33146

Ph: 786.353.8945 

Salvatoredomina.com