Chinese buyers have surpassed Canadians as the most dominant foreign home purchasers in the United States, according to the National Association of REALTORS®’ 2015 International Profile of Home Buying Activity.
Home buyers from China comprised 16% of international buyers who purchased single-family homes and condos in the 12-month period ending this March. Canadians comprised 14% of international buyers, down from 23% in 2013.
Buyers from China also exceeded all other countries in amounts spent, purchasing an estimated $28.6 billion worth of U.S. property. Canada buyers followed with $11.2 billion in purchases, and then India at $7.9 billion; Mexico with $4.9 billion; and the United Kingdom at $3.8 billion.