Coldwell Banker Publishes 'The International Buyer's Guide to Purchasing U.S. Property' for 2023

Coldwell Banker released the latest The International Buyer's Guide to Purchasing U.S. Property. The guide offers international buyers a wealth of tips and best practices to purchase property in the United States. Serving as a resource for Coldwell Banker affiliated agents, The International Buyer's Guide also acts as a marketing tool, facilitating global referral business.

Key features in The International Buyer's Guide include:

The Current Real Estate Landscape

After years of record home sales and price appreciation, the U.S. housing market has experienced unit contraction and a deceleration of appreciation. Higher interest rates coupled with historically low housing inventory and resilient home prices has impacted domestic buyer activity. The median existing-home sales price grew 2.8% from one year ago to $394,300, marking the third consecutive month of year-over-year price increases, according to NAR.

International buyer activity has also experienced a contraction. Between April 2022 and March 2023, the number of existing homes purchased by international buyers fell to its lowest level since tracking for foreign buyer purchases began in 2009 – a 14% decline from the prior period, according to NAR. Additionally, the dollar volume of international buyer purchases decreased modestly to $53.3 billion.

• Home Purchases: International buyers accounted for 84,600 of existing home purchases.
• Cash Offers: 42% of international buyers paid all-cash for a U.S. property, compared to 26% among all existing home buyers.
• Real Estate Investment: 50% of international buyers purchased property for use as a vacation home, rental or both in the United States.

Top Destinations

Florida, California, Texas, Arizona and North Carolina are this year's top five U.S. states attracting the greatest number of international home buyers. Major cities such as New York and Los Angeles have historically drawn international investment, however affordable secondary cities, suburbs and inland housing markets now present enticing, "hidden gem" opportunities.

"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," said Jason Waugh, President of Coldwell Banker Affiliates.