Report shows American buyers being outspent by almost 100%

According to a report by the National Association of Realtors, property purchases by international buyers are almost double the price when compared to those purchased by Americans.

It has been revealed that international buyers are spending $400,000 on average while Americans are spending $212,000. International sales are rising across the country, including in Arizona, California and Florida.

Although investment in American property from the UK and Mexico has been declining in recent years, a surge in buyers from Canada, especially in those states that are seen to be sandy and sunny, means that the international buying market is strong.  Buyers from the UK and Mexico are still in the top five when it comes to international buyers.  Canadians buyers currently account for 23% of all property sales in America in 2011, a market that is worth over $80 billion.  China is emerging as one of the leaders when it comes to people buying properties in America, with many Chinese citizens choosing to buy in California.

During the financial year of 2010-2011 there was a 24% increase in international sales, with at least one in four realtors dealing with at least one client from overseas each year. This is a figure that is expected to increase as property prices continue to remain low within the US. With house prices dropping in America, many international buyers are choosing to purchase their properties by paying in cash. The National Association of Realtors says that two thirds of all such transactions were paid for in this manner, bringing much needed revenue into the American economy.