Real Estate and Foreigners

It is no secret that the housing market in the U.S. is starting to look up, and more homes are selling than they were in the last few years. All kinds of real estate is becoming hot again, with sellers seemingly living in a dream by having so many properties in such a demand. Normally, one would think that Americans are buying up all of these properties. While the majority of real estate purchases are from the U.S., as The Pelorus Group will explain, foreigners are starting to really become involved in the real estate market. 

Not surprisingly, the most searches for properties in the United States come from Canada, Germany, and the United Kingdom. More surprisingly though, Asia and Africa have seen a large increase of interest in homes in the United States. Also, one would think that these foreign house hunters were looking at different cities. While this is true, they are actually honing in on particular neighborhoods, narrowing down their searches from a broader one. The expensive neighborhoods tend to gain more searches from international house hunters because they are better known and some are outright famous.