Here is a recent sampling of some encouraging real estate industry news:
- For the third consecutive month, sales of new single-family homes posted gains in May, according to HUD and the U.S. Census Bureau. The sales pace in May was the fastest since July of 2008. Inventories also rose in May, reaching a 4.1-month supply at the current sales pace.
- The National Association of Realtors reported that pending home sales rose in May to the highest level since December 2006. Pending sales now have been above year-ago levels for the past 25 months.
- The CoreLogic Home Price Index Report showed that home prices increased 12.2 percent year over year in May, the highest increase since February 2006. This marks 15 consecutive months of year-over-year gains.
International Interest in U.S. Real Estate Remains Strong
According to the National Association of Realtors' 2013 Profile of International Home Buying Activity, total international sales were down from the previous year. Fortunately, this decline is considered temporary due to factors such as economic slowdowns in a number of major foreign economies, and in fact, foreign buyers continue to have a substantial interest in U.S. properties.
The report shows that over a five-year time frame, more than 70 percent of Realtors reported a constant or increasing level in the number of international clients contacting them. In addition, 27 percent of those surveyed reported having worked with international clients this year, who shared they were interested in property here because the United States is viewed as a desirable location and because real estate is regarded as a profitable investment.
The report shows that over a five-year time frame, more than 70 percent of Realtors reported a constant or increasing level in the number of international clients contacting them. In addition, 27 percent of those surveyed reported having worked with international clients this year, who shared they were interested in property here because the United States is viewed as a desirable location and because real estate is regarded as a profitable investment.
Other notable statistics include:
- Five countries – Canada, China, Mexico, India and the United Kingdom – accounted for approximately 53 percent of transactions, with Canada and China as the fastest-growing sources.
- Florida, California, Arizona, Texas and New York made up 61 percent of reported purchases.
- About half of foreign buyers preferred to purchase in a suburban area, while a quarter preferred a more central city/urban area.
No comments:
Post a Comment