A total of 27.3 billion U.S. dollars, 29,195 houses – What these numbers are saying is China has been the largest buyer of U.S. homes for the second year in a row.
Increasing activity has brought both the dollar volume and number of units sold to levels far exceeding that of any other foreign demographic.
In terms of dollar volume, the Chinese bought 26.7 percent of the total amount of residential property sold,notes Lawrence Yun, chief economist at U.S. National Association of Realtors as quoted by news media on Saturday.
In Profile of International activity in U.S. Residential Real Estate, market researchers at NAR outlined some major trends in Chinese activity in the U.S. market.
Among the major foreign buyers, Chinese buyers tend to purchase residential properties in central cities and suburban areas with relatively higher property prices. The average purchase price among Chinese buyers…
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